ISLAMABAD: Representatives of the global watchdog for financial transactions were visiting Pakistan this week to review progress on implementing a 12-point plan.
Pakistan was placed on the Financial Action Task Force (FATF) “grey list” last June at FATF Plenary session in Paris after a review of the monitoring report of the International Cooperation Review Group (ICRG).
Foreign Ministry spokesman Mohammad Faisal told a news briefing last week, before the delegation arrived in the country: “Pakistan is prepared for the FATF visit.”
The FATF delegation was scheduled to meet caretaker Finance Minister Shamshad Akhtar and representatives of the National Counter Terrorism Authority (NACTA), Federal Investigation Agency (FIA), State Bank of Pakistan and other relevant state bodies.
The FATF is an inter-governmental body, which is based in Paris, which battles money laundering, terrorist financing and other threats to the international financial system. It was set up in 1989.
After the country was put on the FATF list, the Pakistan government reiterated its commitment to fulfilling demands made by the watchdog in July this year.
On June 30 Pakistan’s caretaker Finance Minister Dr. Shamshad Akhtar promised that the government was determined to strengthen measures against terrorism and terror financing.
The FATF delegation’s visit will conclude on Thursday.
