After receiving positive news from the Financial Action Task Force (FATF) to Pakistan, Foreign Minister Bilawal Bhutto Zardari addressed the...
After receiving positive news from the Financial Action Task Force (FATF) to Pakistan, Foreign Minister Bilawal Bhutto Zardari addressed the issue of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) in the country. It reiterated its commitment to bring the strategy up to global standards.
His remarks came after the FATF acknowledged that Pakistan had complied with all 34 points of the two separate action plans.
In the next phase, before removing Pakistan from the 'gray list', the FATF will visit the country to verify the implementation and sustainability of Pakistan's money laundering and counter-terrorism financing measures.
Read also: Pakistan is about to get out of the 'gray list', fulfill all the conditions of FATF
In a statement issued by the Foreign Office, Foreign Minister Bilawal Bhutto said, "The Government of Pakistan is committed to continuing this positive path of financial sector reform as part of its strategy to strengthen the country's economy."
"I am confident that this good news from the FATF will restore confidence in Pakistan's economy and encourage sustainable development," he said.
The Foreign Minister reiterated the high level commitment of the government to bring the AML / CFT system in line with international standards.
Read more: Pakistan removal from the gray list is 'one step away', Hina Rabbani Khar
He further said that Pakistan is looking forward to the successful progress of FATF's visit to the country and its removal from the gray list and its early completion.
Welcoming the unanimous acknowledgment by the FATF of the completion of Pakistan's Action Plan for 2018 and 2021, the Foreign Minister appreciated the hard work and efforts of the FATF team of Pakistan, which led to the implementation of both Action Plans. Successfully fulfilled all technical requirements.
Bilawal Bhutto further said that this was the result of joint national efforts and full coordination of the interests of all stakeholders.
Read also: Date Pakistan was added to FATF 'gray list'
He said that the announcement of FATF's visit to Pakistan was a welcome development as it reflected the significant progress made by Pakistan in making its AML / CFT system more effective. does.
It may be recalled that Minister of State for External Affairs Hina Rabbani Khar had also said yesterday that Pakistan had implemented all the action plans of the Financial Action Task Force and the country was one step away from getting out of the gray list.
He said that the government was working on the schedule of the FATF team's visit to Pakistan and the date of the visit would be decided after joint talks.
Implementation of FATF demands
It may be recalled that two days ago, at the end of a four-day meeting held in Berlin, Germany, the Financial Action Task Force had said that Pakistan has implemented all the points of the two action plans consisting of 34 points.
In a press conference after the four-day meeting, FATF President Marcus Player had said that Pakistan has fulfilled all the conditions of two separate action plans consisting of 34 points, however, Pakistan is not being removed from the gray list today.
He further said that FATF Corona would visit Pakistan as soon as possible after reviewing the situation, after which Pakistan would be removed from the gray list.
Read also: US acknowledges Pakistan's efforts on FATF action plan
Marx Player, while acknowledging the reforms made by Pakistan, said that it was good for the security and stability of Pakistan.
He said that Pakistan must ensure that it has effectively curbed money laundering and terrorist financing.
According to the FATF, Pakistan has improved its probe into terrorist financing against senior leaders and commanders of UN-designated terrorist groups, as well as money laundering investigations and legal action. There is a positive trend in gambling.
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