Breaking: FATF Removes Pakistan From Grey List

Breaking: FATF Removes Pakistan From Grey List
Foreign Minister Bilawal Bhutto-Zardari has said that the Financial Action Task Force (FATF) has finally removed Pakistan from its 'increased monitoring' list, which is more commonly known as the grey list.

The foreign minister made the announcement shortly before the FATF plenary conference commenced, and congratulated the country on the achievement.

Pakistan was cleared from the FATF in June, after the watchdog ‘unanimously cleared’ the country and acknowledged that it has met all 34 requirements. Pakistan was placed on the list in June 2018, for failing to keep money laundering and terrorist financing in check.

The first FATF Plenary under the two-year Singapore Presidency of T. Raja Kumar is currently taking place from October 21-22. During the conference, Kumar revealed that Pakistan has two concurrent action plans, and has effectively addressed all the items on the action plans.

“As a result of these action plans, Pakistan has made significant improvements to strengthen the effectiveness of this framework for combatting terrorism financing," he said, announcing Pakistan's exit from the grey list after four years.