Politics

FATF plenary and working group meeting held in Paris, France

PARIS: The Financial Action Task Force (FATF) Plenary meeting was held in Paris from February 16-21, 2020. The Pakistan delegation was led by Mr. Muhammad Hammad Azhar, Minister for Economic Affairs Division. During the last reporting period, Pakistan has made significant progress in the implementation of FATF Action Plan, which has been demonstrated by the completion of 9 additional action items. FATF reviewed progress made by Pakistan towards implementation of the Action Plan, while acknowledging the steps taken by Pakistan towards implementation of Action Plan and welcoming its high level political commitment, FATF highlighted the need for further actions for completing the Action Plan by June 2020. FATF members agreed to maintain Pakistan’s status on FATS’s Compliance Document, normally referred as the Grey List. The Government of Pakistan stands committed for taking all necessary action required for completing the remaining items in the Action Plan. A strategy in this regard has been formulated and is being implemented. FATF will undertake the next review of Pakistan’s Progress in June 2020.

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