FATF, government to start final negotiations on Monday

ISLAMABAD: The Financial Action Task Force (FATF) Asia-Pacific team will reach Pakistan tonight where the final negotiations between government and FATF would begin in Islamabad on Monday.

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According to details, the FATF delegation will meet officials of the ministries of finance and interior, the financial monitoring unit, and the state bank.

As per the sources, the FATF team will review the administrative and legal measures taken by Pakistan to stop the monetary assistance of terrorists.

The FATF delegation will also recommend exclusion of Pakistan’s name from Gray list or inclusion on the Black list.

On June 28, the Financial Action Task Force (FATF) officially placed Pakistan on its grey list after a plenary meeting in Paris.

Despite Pakistan’s diplomatic efforts to avert the decision, the financial watchdog, in its meeting, argued that Pakistan had failed to curb terror financing on its soil.

FATF is a global body that combats terrorist financing and money laundering. Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations by the FATF, a measure that officials fear could hurt its economy.

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