Decision of Pakistan's exit from FATF grey list to be made on Friday

This is the first FATF meeting under the chairmanship of taskforce's new President Raja Kumar.

ISLAMABAD (Dunya News) - Pakistan is expected to finally exit the grey list of the Financial Action Task Force (FATF) today (Friday) as the global money-laundering watchdog meets to review the implementation of its action plan by Islamabad.

This is the first FATF meeting under the chairmanship of taskforce’s new President Raja Kumar.

According to details, Pakistan is likely to exit the FATF’s infamous grey list after a period of four years as it has successfully complied with the 34-points action plan related to terror financing and money laundering.

In a statement, earlier this year, the Financial Action Task Force (FATF) acknowledged that Pakistan has “substantially completed its two action plans”, saying that the watchdog will now schedule an on-site visit to verify the implementation of the measures.

It is pertinent to mention here that Pakistan was added to the FATF’s grey list in June 2018 for deficiencies in its system to curb money laundering and terror financing.