ISLAMABAD: A week-long series of meetings by Paris-based global terror financing watchdog, the Financial Action Task Force (FATF), will kick off on Sunday where matters related to Pakistan’s progress will come under discussion according to an FATF statement.
The FATF meetings are expected to run from Feb. 16 till Feb. 21 in Paris, where more than 800 representatives from 205 countries and jurisdictions around the world including from the IMF, UN, World Bank, and other organizations, will arrive for FATF Week, according to a statement on the organization’s website.
“Six days of meetings will focus on global action to follow the money that fuels crime and terrorism and reduce the harm caused to people and society,” the statement said. It added that progress by Iran, Pakistan and other countries that present a risk to the financial system would be one of the subjects under discussion.
The Pakistani delegation will be headed by Federal Minister for Economic Affairs Hammad Azhar, according to local media.
In June 2018, Pakistan was placed on a grey list of countries that failed to end money laundering, and where terrorists were still able to raise funds for the organizations and activities.
In October last year, the FATF announced Pakistan would remain on its grey list until February 2020, and gave the country a few months to implement a 27-point action plan.
In January this year, at an FATF moot in Beijing, Pakistan provided a list of actions it had taken to implement the action plan.
If not removed off the list by April, Pakistan may be moved to a blacklist of countries and face severe economic sanctions that could cripple its already struggling economy.
FATF to discuss Pakistan in week of decisive meetings
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FATF to discuss Pakistan in week of decisive meetings
- In June 2018, Pakistan was placed on a grey list of countries that failed to end money laundering
- The week long series of meetings will be taking place in Paris with 800 representatives from 205 countries
