• About
  • Advertise
  • Contact
Thursday, August 18, 2022
  • Login
WRITE FOR US
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
No Result
View All Result
Economy.pk
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
Economy.pk
Home Politics International Politics

FATF likely to arrange on-site visit to Pakistan in September

bySuneela Zulfiqar
July 18, 2022
in International Politics, World
Reading Time: 2 mins read
0
FATF likely to arrange on-site visit to Pakistan in September
434
SHARES
6.1k
VIEWS
Share on FacebookShare on Twitter

The Financial Action Task Force (FATF) is likely to send its team to Pakistan for on-site inspection in September, said a report in the local media on Sunday, before removing the country from its “grey list.”

This is significant because Pakistan was downgraded to the FATF’s increased monitoring list in June 2018. The FATF cited several vulnerabilities in Pakistan’s financial system which could be exploited by criminal elements for money laundering and terrorism financing.

RelatedPosts

Homeless man, daughter sell balloons to Pay for Education

New UK trading scheme facilitates Pakistan for increasing export

Pakistan, UK ink reciprocal agreement to return criminals

If Pakistan is removed from the grey list in September, it will be a positive development for the country.

The global dirty money watchdog presented Pakistan with a 34-point action plan that must be executed in two phases before the country can be removed from the list.

During a media briefing in Berlin last month, the FATF president, Marcus Pleyer, praised Pakistan for making substantial progress in strengthening its financial system. He said the country would be removed from the grey list after “it successfully passes the on-site visit,” according to diplomatic sources. The FATF on-site mission could take place “in the early fall,”.

“Global financial crime watchdog the Financial Action Task Force (FATF) will send its on-site mission to Pakistan sometime in September, a visit anticipated by diplomatic circles in Islamabad as a ‘final walk-through from the FATF process’ for the country,” the newspaper said.

It added: “The international diplomatic community believes that Pakistan’s moving from the grey list to the white list of the FATF will help develop new synergy and the international financial institutions will be better equipped to assist the Pakistani government in overcoming economic and financial difficulties.”

Pakistan’s state minister for foreign affairs Hina Rabbani Khar, who represented her country during the FATF plenary in Berlin, said last month that the international community had “unanimously” acknowledged Pakistan’s efforts to fortify its financial system.

The foreign office also mentioned the “relentless efforts” made by the country to ensure successful completion of the FATF action plan despite several challenges.

According to the statement, Pakistan’s engagement with the FATF has resulted in the development of a stronger framework for combating money laundering and terrorism financing, and has improved our ability to deal with future challenges.

Tags: Financial Action Task Forceglobal dirty money watchdoglateston-site visit
Suneela Zulfiqar

Suneela Zulfiqar

Related Posts

Homeless man, Daughter sell balloons to Pay for Education

Homeless man, daughter sell balloons to Pay for Education

A homeless single father and his daughter selling balloons late at night to pay for her educational expenses in China....

New UK trading scheme facilitates Pakistan for increasing export

New UK trading scheme facilitates Pakistan for increasing export

The United Kingdom (UK) has launched a “Developing Countries Trading Scheme” (DCTS), providing tariff reductions and simpler terms of trade...

Next Post
Pakistan-Iran freight train service partially restored

Pakistan-Iran freight train service partially restored

Recommended

Govt Lifts Import Ban on CKD Car Kits

Govt Lifts Import Ban on CKD Car Kits

Good News for Construction Sector as Steel Prices Slashed by Rs. 12,000 Per Ton

Good News for Construction Sector as Steel Prices Slashed by Rs. 12,000 Per Ton

Homeless man, Daughter sell balloons to Pay for Education

Homeless man, daughter sell balloons to Pay for Education

FIFA’s Official Website Removes Israel to Add Palestine in Its List of Countries

FIFA’s Official Website Removes Israel to Add Palestine in Its List of Countries

Govt to borrow Rs6.8tr from banks

Govt to borrow Rs6.8tr from banks

5% tax on manufacturers to be expected

5% tax on manufacturers to be expected

Connect with us

Twitter

Economy.pk

Economy.pk touches diverse topics with a lighter note and is geared toward audiences with various interests and all ages. Come and explore Economy.pk. Ample details and analysis are provided in extraordinarily readable manner making them compelling and interesting at the same time.

Category

  • World
  • Politics
  • Business
  • Technology
  • Education
  • Health
  • Life & Style
  • Opinions

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin

Sitelinks

  • Sitemap

Download our APP

download on android app download on apple app
  • About
  • Advertise
  • Contact

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

  • LATEST
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Canada
    • 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

© 2022 All Rights Reserved Economy.pk | Designed & Developed by Digital Otters

No Result
View All Result

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In