Pakistan likely to be out of FATF grey list
Pakistan requires 12 votes out of total 39 to land back in the safe white list
(Web Desk) – After taking steps against terror groups, Pakistan, now, may be out of the Grey List of the international terror financing watchdog Financial Action Task Force (FATF) at its plenary to be held on February 16.
According to Indian media, the FATF will hold its next plenary on February 16. The report further states that after heavy lobbying by China there is "a 75 percent chance of Pakistan exiting the grey list now".
The meeting of the Asia Pacific Joint Group, the FATF international cooperation review group, concluded in Beijing on Thursday where China did much of the heavy lifting to convince the 39-member grouping that Islamabad was making "great efforts" in the area of counter-terrorism.
On Thursday, while responding to a question on the proceedings, Chinese foreign ministry spokesperson said: "Pakistan has made great efforts to strengthen its domestic counter-terrorism financing system with visible progress. Its political will and active efforts should be recognised and encouraged by the international community. We hope that the FATF will continue to offer constructive support and assistance to Pakistan in its continued efforts to improve the counter-terrorism financing system and effectively fighting terrorist financing."
"As FATF president and co-chair for Asia Pacific Joint Group, China will continue to uphold an objective, just and constructive attitude and participate in relevant discussions," the spokesperson said.
Pakistan requires 12 votes out of total 39 in the plenary meeting of the FATF to land back in the safe white list from grey list .
Earlier, Pakistan was placed on the Grey List by the FATF in June 2018 and was given a plan of action to complete it by October 2019 or face the risk of being placed on the blacklist along with Iran and North Korea.
The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.
The FATF currently has 35 members and two regional organisations -- the European Commission and Gulf Cooperation Council. India is a member of the FATF consultations and its Asia Pacific Group and was represented in the meeting by a team of officials from the ministries of Home, External Affairs and Finance.
