Pakistan completed 90pc of FATF action-plan: Federal Minister Hammad Azhar
By Web Deskupdated : 2 months ago
ISLAMABAD: 26, FEBRUARY, 2021: Federal Minister for Industries and Production, Muhammad Hammad Azhar on Friday has said that Pakistan had completed almost 90 percent of its current Financial Action Task Force (FATF) action-plan.
The federal minister Muhammad Hammad Azhar, who led by the Pakistani team at the FATF plenary, took to Twitter and wrote that, "Pakistan has completed almost 90% of its current FATF action-plan with 24 out of 27 items rated as ‘largely addressed’ and remaining 3 items ‘partially addressed’. FATF has acknowledged Pak’s high level political commitment since 2018 that led to significant progress."
Pakistan would remain on the grey list till June 2021, a statement issued by the FATF from Paris.
The Financial Action Task Force (FATF) has also appreciated Pakistan for the significant progress made on the entire action plan.
FATF stated in its plenary meeting held on February 25, "To date, Pakistan has made progress across all action plan items and has now largely addressed 24 of the 27 action items," while it strongly urged Pakistan to swiftly complete its full action plan before June 2021.
It is to be noted that, the FATF gave fourth extension to Pakistan to fully implement a 27-point action plan and "strongly urged" it to meet the remaining three conditions about terror financing investigations and the United Nations Security Council resolutions.
The virtual FATF plenary took place in Paris from February 22 to 25 to consider cases of various countries on the grey list, including Pakistan, and decision made at the conclusion of the meetings.
In the previous meeting which was held in last year in the month of October, FATF had announced that Pakistan would continue to remain on its grey list till February 2021 for six out of 27 unmet action plan targets on anti-money laundering and combating the financing of terrorism (AML/CFT).
"Pakistan remains in the increased monitoring list, the so-called grey list," announced Dr Marcus Pleyer, president of Paris-based global money laundering and terrorist financing watchdog, at a virtual news conference on the conclusion of a three-day plenary in Paris.
An official sources informed that Pakistan had already complied with the six recommendations and also submitted details to the FATF secretariat. The members would now evaluate Pakistan's responses during the meeting, the source said.
Pakistan had made significant progress in legislation as well as its implementation, it added. (04)
Pakistan completed 90pc of FATF action-plan: Federal Minister Hammad Azhar
By Web Deskupdated : 2 months ago
ISLAMABAD: 26, FEBRUARY, 2021: Federal Minister for Industries and Production, Muhammad Hammad Azhar on Friday has said that Pakistan had completed almost 90 percent of its current Financial Action Task Force (FATF) action-plan.
The federal minister Muhammad Hammad Azhar, who led by the Pakistani team at the FATF plenary, took to Twitter and wrote that, "Pakistan has completed almost 90% of its current FATF action-plan with 24 out of 27 items rated as ‘largely addressed’ and remaining 3 items ‘partially addressed’. FATF has acknowledged Pak’s high level political commitment since 2018 that led to significant progress."
Pakistan would remain on the grey list till June 2021, a statement issued by the FATF from Paris.
The Financial Action Task Force (FATF) has also appreciated Pakistan for the significant progress made on the entire action plan.
FATF stated in its plenary meeting held on February 25, "To date, Pakistan has made progress across all action plan items and has now largely addressed 24 of the 27 action items," while it strongly urged Pakistan to swiftly complete its full action plan before June 2021.
It is to be noted that, the FATF gave fourth extension to Pakistan to fully implement a 27-point action plan and "strongly urged" it to meet the remaining three conditions about terror financing investigations and the United Nations Security Council resolutions.
The virtual FATF plenary took place in Paris from February 22 to 25 to consider cases of various countries on the grey list, including Pakistan, and decision made at the conclusion of the meetings.
In the previous meeting which was held in last year in the month of October, FATF had announced that Pakistan would continue to remain on its grey list till February 2021 for six out of 27 unmet action plan targets on anti-money laundering and combating the financing of terrorism (AML/CFT).
"Pakistan remains in the increased monitoring list, the so-called grey list," announced Dr Marcus Pleyer, president of Paris-based global money laundering and terrorist financing watchdog, at a virtual news conference on the conclusion of a three-day plenary in Paris.
An official sources informed that Pakistan had already complied with the six recommendations and also submitted details to the FATF secretariat. The members would now evaluate Pakistan's responses during the meeting, the source said.
Pakistan had made significant progress in legislation as well as its implementation, it added. (04)
