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Pak interim PM reviews FATF requirements on terror financing

Press Trust of India  |  Islamabad 

Pakistan's interim Nasir-ul-Mulk today reviewed the measures taken by the country to meet the requirement of the global watchdog over financing.

Based in Paris, (FATF) is the global watchdog on money laundering and financing. The FATF has placed on the global terror financing watch-list.

was listed as grey in 2012 but was removed in 2015 after strenuous efforts to address the concerns of the group.

chaired his first meeting at the Prime Minister's House.

gave a detailed presentation to the meeting about the upcoming FATF in and the administrative and legal measures taken so far to meet the global watchdog's requirements, said a statement by the PMO.

"While reviewing various actions taken towards fulfilling country's international responsibilities under the (FATF) framework, the meeting expressed satisfaction over the progress made so far," it said.

Foreign Office confirmed in February that the country would go on a 'grey-list' from June this year.

"Pakistan will be assigned to the 'grey-list' in June, once an Action Plan has been mutually negotiated," Foreign Office was quoted as saying by The Express Tribune.

He, however, said that it was not true that the country would be transferred from the 'grey' to 'black' list in June this year.

The noted that the progress should be shared with the in the upcoming meeting.

It reaffirmed the commitment of the country to work with FATF and other international organisations in achieving common goals and shared objectives.

The also shared with the Committee members contents of his telephonic discussion with US on June 7, the statement said.

The meeting reviewed overall security situation in the country, it said.

FATF was set up in 1989 with a primary aim to set standards to combat money laundering, but in 2001 its mandate was expanded to include countering terror financing.

It can take action against any country by including a country in black or grey lists.

was named as the caretaker last month until the on July 25 to oversee the second-ever democratic transition of power in Pakistan ruled by the powerful army for much of its life since it gained independence 70 years ago.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 08 2018. 19:55 IST
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