The Financial Action Task Force (FATF) – an international financial watchdog for combatting money laundering and terrorist financing – is expected to announce its decision on whether it will be removing or retaining Pakistan on its ‘grey list’ later today (Friday).
While the government remains hopeful for a positive outcome, Minister of State for Foreign Affairs Hina Rabbani Khar has warned against “prejudging the outcome or speculative reporting”.
The #FATF Plenary Meetings r continuing in Berlin. FATF will issue a Public Statement after conclusion of the meetings tonight. Prejudging the outcome or speculative reporting could and should be avoided.
GOP has arranged a media briefing at MOFA on Saturday morning on this issue
— Hina R Khar (@HinaRKhar) June 17, 2022
In a tweet, the minister also informed that the government has “arranged a media briefing at MOFA [Ministry of Foreign Affairs] on Saturday morning on this issue”.
It is to be noted that Khar is leading the Pakistani delegation through the four-day plenary session that began on Tuesday in Berlin.
Earlier this week, the government sources had said that except for those relating to the prosecution of money laundering almost all points of the FATF action plan have been implemented. Pakistan has made significant progress in the prosecution of money laundering crimes, undertaking all relevant legal reforms including amendments in laws.
Pakistan is of the view that it has an impartial, independent and transparent judiciary like the rest of the world, insisting that money laundering and terrorism financing cases can be prosecuted under the prevailing legal mechanism.
In March, the FATF had acknowledged the “significant progress” made by Pakistan in completing the required action items.
“Since June 2018, when Pakistan made a high-level political commitment to work with the FATF and APG to strengthen its AML/ CFT regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan’s continued political commitment has led to significant progress across a comprehensive CFT action plan,” the statement had stated as the money laundering watchdog encouraged Pakistan to continue its commitment towards demonstrating that terrorist financing investigations and prosecutions target senior leaders and commanders of UN-designated terrorist groups.