Foreign Ministry of China on Friday has said that Pakistan efforts to curb money laundering and terror financing has been ‘recognized’ by the majority of Financial Action Task Force (FATF) members.
“Pakistan has made enormous efforts in improving its CTF (Counter Terrorism Finance) regime, which has been recognized by the majority of FATF members at the latest plenary meeting in Paris. China & other countries will continue offering assistance to Pakistan in this area,” tweeted the Chinese ministry.
The FATF would formally announced its decision regarding keeping Pakistan on grey list or not today (Friday), as the plenary concludes in Paris. As per reports, Indian attempts to blacklist India foiled after no country supported India’s attempt to blacklist Pakistan. It was learnt that Indian demand for members countries to blacklist Pakistan, which was rejected.
Pakistan is likely to be given further time till October to achieve full compliance with the FATF 27-point action plan and exit from the grey list.
Pakistan has fully implemented 14 out of 27 points of FATF recommendations. FATF members praised Pakistan for taking effective steps, countering money laundering, and terror financing. The FATF expressed satisfaction with Pakistan’s performance report.