FATF takes Pakistan off its global 'grey' list for terrorism financing

Pakistan has been removed from an international grey list that warrants increased surveillance for terrorism financing, the head of the international money laundering watchdog which makes the list said.

The decision was taken at the end of a two-day meeting in Paris, Financial Action Task Force (FATF) President Raja Kumar told a news conference on Friday.

"Pakistan had addressed technical deficiencies to meet the commitments of its action plans regarding strategic deficiencies that the FATF identified in June 2018 and June 2021," Kumar said in a summary speech.

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Reputation boost

In a meeting in June, the FATF had said it was keeping Pakistan on the so-called "grey list", but said it might be removed after an on-site visit to verify progress.

Pakistan was listed in 2018 because of "strategic counter-terrorist financing-related deficiencies".

With its removal from the list, Pakistan would essentially receive a reputational boost and get a clean bill of health from the international community on terrorist financing.

"Pakistan exiting the FATF grey list is a vindication of our determined and sustained efforts over the years," Prime Minister Shehbaz Sharif said after the announcement. 

"I would like to congratulate our civil and military leadership as well as all institutions whose hard work led to today's success."

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