FATF to review Pakistan’s case today

Islamabad Politics Report/Moazzam Raza Tabassam: In the ongoing important meeting of FATF from June 24-29 in France, there remain a possibility of putting Pakistan on ‘grey-list’ of FATF.

Caretaker interim Finance Minister Shamshad Akhter is in Paris to present Pakistan’s case before the Financial Action Task Force (FATF) during a meeting on Monday.

FATF had decided to put Pakistan on the anti-terror financing watchdog’s grey list during a plenary meeting in February this year.

Akhter will apprise the anti-terror financing body of measures that Pakistan has taken to stop money laundering and strangling the terror financing.

As a part of efforts to implement the FATF counter-terrorist financing operational plan adopted in February this year, on June 20, the Securities and Exchange Commission of Pakistan issued the ‘Anti Money Laundering and Countering Financing of Terrorism Regulations 2018’.

Last week, the interim finance minster said that the finance ministry has improved institutional mechanisms for handling anti-money laundering and countering financing terrorism issues. Coordination between the State Bank, Banking institutions and law enforcement agencies has also been strengthened to curb money laundering and terror financing, she added.

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