ISLAMABAD: A senior Pakistani official told Arab News that Pakistan is not placed on ‘grey list’ of Financial Action Task Force (FATF) during its meeting in Paris that lasted from Feb. 21-23.
“We will be placed on the grey list in June,” the official said who was representing Pakistan in the meeting in Paris.
He said that Pakistan’s foreign policy has been successful in heading off the motion co-sponsored by the US that was seeking to place Islamabad on the so-called grey list immediately.
The government official also clarified, “there is no chance of placing Pakistan on the blacklist even after June.” He said that Pakistan will be placed on the grey list only if a joint action plan with the FATF is not reached in June or Pakistan fails to cooperate with the task force.
The FATF is an inter-governmental body established in July 1989 by a Group of Seven (G-7) Summit in Paris. Its objectives are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
The FATF currently comprises 35 members and two regional organizations, representing most major financial centers in all parts of the globe along with observer countries, organizations and associate members.
Pakistan was on the FATF watch-list from 2012 to 2015.
A senior Pakistani diplomat based in Europe, who is close to team that represented Pakistan in the recent FATF meetings in Paris, told Arab News that it was Pakistan foreign policy that lead to this success.
The diplomat added that Pakistan will fully cooperate with the FATF and work on an action plan between now and June. “We are sure that Pakistan will not be placed in the grey list even in June,” the diplomat asserted.