FATF: EU offers technical assistance to Pakistan

The European Union has offered technical assistance to Pakistan for the implementation of the Financial Action Task Force (FATF) action plan by the country, according to a media report.

According to a joint press release issued at the conclusion of the 10th session of the European Union-Pakistan Joint Commission in Brussels on Friday, two sides emphasised the importance of the implementation of the FATF action plan by Pakistan, The Dawn reported.

The EU recognised the challenges faced by Pakistan in handling the most protracted refugee situation, and assured the country of continuation of its cooperation and assistance, working towards durable solutions for Afghan refugees and their host communities in the region, including the promotion of voluntary, safe, and dignified return to Afghanistan.

Global terror financing watchdog FATF last month retained Pakistan on its 'Grey List' till February 2020 for its failure to take adequate action against money laundering and terror financing.

Pakistan was placed on the Grey List by the Paris-based Financial Action Task Force (FATF) in June last year and was given a plan of action to complete it by October 2019 or face the risk of being placed on the Black List.