• Download the Constitution of Pakistan
  • Advertise
WRITE FOR US
Economy.pk
No Result
View All Result
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
No Result
View All Result
Economy.pk
No Result
View All Result
Home Main

After four long years, FATF Removes Pakistan out of Grey List

by Suneela Zulfiqar
October 21, 2022
in Main, News
Reading Time: 2 mins read
After four long years, FATF Removes Pakistan out of Grey List
Share on FacebookShare on Twitter

The Financial Action Task Force (FATF), a global financial watchdog, has removed Pakistan from its FATF’s Grey List. The decision was taken by the FATF hybrid plenary meeting, which met in Berlin and was the final one under the two-year Germany Presidency of Marcus Pleyer.

The global watchdog on terror financing made the announcement at the conclusion of its plenary meeting in French capital. It has removed Pakistan from the “grey list” after four years as it was put on it in June 2018.

One of the key topics discussed at the recent FATF plenary was the update to the jurisdictions under the Increased Monitoring list (often referred to as the FATF grey list). This is a positive move for Pakistan as it will enable the country to access loans at cheaper interest rates, as well as lower the risk of investing in the country.

In addition, the FATF plenary considered a report that will help the real estate sector to better detect and prevent money laundering and terrorist financing. This is another positive step forward for Pakistan in its efforts to combat financial crime.

Pakistan’s placement on the Financial Action Task Force’s “grey list” can be traced back to 2008. The country has allegedly failing to take adequate measures to curb terror financing and money laundering. The country was placed on the list again in 2010 and 2012.

In February 2015, the Financial Action Task Force (FATF), an intergovernmental body that sets global standards for combating money laundering and terror financing, placed Pakistan back on its radar. The country remained on the monitoring list until May 2018, when it was removed after the FATF said Pakistan had “sufficiently enhanced” its efforts to tackle terror financing.

The PTI government present the Anti-Terrorism Act of 2020, A law necessary to get Pakistan out of the FATF Grey List back then when Pakistan added to grey list but the act opposed by the current government in the Parliament of Pakistan.

Then Opp now Imported Govt walking out, incl HRK, in opposition to PTI's FATF related legislation to get Pak out of the Grey List that PMLN had landed Pak in! They tried to blackmail us on crucial national issue of FATF viz NAB amends to get NRO! #FATF #ThankYouImranKhan pic.twitter.com/bEt34LK3Ac

— Shireen Mazari (@ShireenMazari1) June 17, 2022

Tags: FATF’s grey listglobal financial watchdoglatestPakistan
Suneela Zulfiqar

Suneela Zulfiqar

Related Posts

Mastung Blast: At least 13 killed, 70 injured

At least 53 killed, scores injured in Mastung ‘suicide’ blast

On Friday, a tragic incident occurred in Balochistan's Mastung district, resulting in at least 53 fatalities and around 70 injuries,...

Pakistan celebrates Eid Milad-un-Nabi (PBUH) with religious zeal, fervor

Pakistan celebrates Eid Milad-un-Nabi (PBUH) with religious zeal, fervor

Today is Eid Milad-un-Nabi (PBUH), which is being celebrated across the country with great religious enthusiasm and passion. The day...

Pakistan rupee set to become world’s best currency: Bloomberg report

Pakistan rupee set to become world’s best currency: Bloomberg report

According to Bloomberg, Pakistan's rupee is likely to become the top performer globally this month as the interim administration continues...

Pakistan announces to digitize hajj operations

Pakistan announces to digitize hajj operations

In collaboration with the religious ministry, the Ministry of Information Technology and Telecommunications has revealed plans to entirely digitize next...

Lahore Museum offers free entry to all visitors

Lahore Museum offers free entry to all visitors

In an effort to promote art and culture, the administration of the Lahore Museum announced on Wednesday that all visitors,...

2 men arrested in connection with Avastin eye injection scam, says Punjab health minister

2 men arrested in connection with Avastin eye injection scam, says Punjab health minister

Punjab's Acting Health Minister, Dr. Javed Akram, announced on Wednesday that two individuals have been apprehended in connection with the...

Next Post
Pakistan’s Latest Airline Fly Jinnah To Begin Flight Operation From November 1

Pakistan’s Latest Airline Fly Jinnah To Begin Flight Operation From November 1

Recent Posts

  • ICC Unveils Star-Studded Commentary Panel for the 2023 World Cup
  • China’s top scientist says India lying about Chandrayaan-3 landing
  • The World’s Longest Tunnel: A Marvel of Engineering Connecting Switzerland and Italy
  • Pakistan reach squash final in Asian Games 2023 for the first time in 13 Years
  • Pakistan Stock Exchange Seeks Clarification from PIA on Privatization Plans

Advertisement

Twitter

Economy.pk

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Categories

  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos

Privacy & Legal

  • Privacy Policy
  • Cookies

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • About
  • Advertise
  • Contact

© 2023 Economy.pk

No Result
View All Result
  • VIDEOS
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2023 Economy.pk