PARIS: Interim Finance Minister Dr.Shamshad Akhtar on Wednesday requested the Fianncial Action Task Force (FATF) for the removal of Pakistan from its grey list.
Pakistani delegation led by Shamshad Akhtar joined the crucial meeting of FATF starting from Wednesday.Pakistan apprised the FATF authorities about Pakistan’s stern actions taken against terror financing and money laundering in the country and put a very strong case before FATF requesting not to put Pakistan on its grey list.
According to sources ,FATF may give Pakistan more time to comply with the standard and regulations of the watchdog.
Earlier this month on June 20, Securities and Exchange Commission of Pakistan (SECP) issued Anti-Money Laundering and Countering Financing of Terrorism regulations 2018 to comply with the FATF regulations.
The National Security Committee (NSC) earlier on June 8 reiterated its comply with the recommendations of FATF.’’ The committee reaffirmed the commitment of the country to work with FATF and other international organizations in achieving common goals and shared objectives’’ stated NSC meeting.
FATF is a global body that combats financial matters used in the terror activities around the world.In February Pakistan was put on grey list by FATF.Putting pakistan’s name on grey list can adversely affect the already fragile economy of the country.
The six-day meeting of FATF is underway from June 24 to 29 in Paris.