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Pakistan hopeful to get off FATF grey list with votes of Turkey, China, Malaysia

Pakistan is hopeful to get off the Financial Action Task Force (FATF) grey list today as Turkey, China and Malaysia have assured to vote in its favor.

FATF’s current plenary session has been the center of focus in Pakistan as government is hopeful of getting the country out of the grey list.

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Media has reported that Pakistan requires three votes to get off the FATF grey list. Reports have claimed that Turkey, China and Malaysia have assured the votes as per needs of Islamabad.

BBC has quoted a government official that recent updates show good signs in Pakistan’s favor. He said that apart from these three countries, other countries would also be vital to help Pakistan get rid of the list. Without quoting the name of the official, BBC has said that after removal from grey list, a FATF team will visit Pakistan for inspection; and the process might take seven to eight months to settle completely.

A massive campaign by Pakistan was launched to get out of the FATF grey list. Minister of State for Foreign Affairs and Chairperson Pakistan National FATF Coordination Committee Hina Rabbani Khar is representing the country in the important FATF meeting. FATF had put 34 conditions on Pakistan out of which Pakistan had already implemented 32.

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The plenary session of Financial Action Task Force (FATF) that began in Berlin, Germany on Tuesday ended on Thursday in which discussions were focused on the fight against money laundering and terror financing.

In a social media message, FATF has said that during the session, a report on the ways to tackle illicit financing in real estate sector was discussed. It was discussed that effectiveness of measures to fight money laundering, terrorist financing could not be achieved yet. Swift and decisive measures were advised in the session to curb the menace in order to bring effectiveness in all of FATF’s jurisdiction.

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