Pakistan stays on global terrorism financing ‘grey list’
Country avoids FATF blacklist after successfully complying with 21 out of 27 points of action
A global dirty money watchdog decided on Friday to keep Pakistan on its "grey list", despite progress by Islamabad on meeting international anti-terrorism financing norms.
In a statement, the Financial Action Task Force urged Pakistan to complete an internationally agreed action plan by February 2021.
The FATF found that Pakistan has successfully complied with 21 out of 27 points of action.
FATF President Marcus Pleyer announced the decision at a virtual press conference held after the body’s three-day plenary session came to an end today.
The global watchdog reviewed Pakistan’s progress on the 27-point action plan for addressing anti-money laundering and terror financing in its plenary session that started on October 21.
The financial watchdog said: "To date, Pakistan has made progress across all action plan items and has now largely addressed 21 of the 27 action items. As all action plan deadlines have expired, the FATF strongly urges Pakistan to swiftly complete its full action plan by February 2021."
Last February, Pakistan secured an extra four months to complete the plan after missing 13 of the 27 targets that FATF had set for it in 2018 when it put Pakistan on its "grey list". The grace period was then extended again due to the coronavirus pandemic.
The "grey list" comprises countries whose controls over terrorism financing are deemed inadequate.
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