Islamabad: Pakistan’s PM Imran Khan has suffered a setback. FATF’s ‘gray’ list will remain intact. China and Turkey tried, but could not succeed.
Pakistan will likely remain on the ‘gray’ list of the Financial Action Task Force (FATF), as it has failed to comply with six of the 27 targets of the FATF’s action plan. When the proposal was put before a 38-member panel, no one approved the proposal.
FATF President Marcus Pleier said Pakistan would remain on the FATF’s ‘gray’ list.
The FATF retained Pakistan on the Grey List and warned the country of action for its failure in combating money laundering and terror financing. The decision was taken after a five-day plenary of the FATF held in Paris in October.
“Pakistan faces greater challenges than many other countries because of its risk profile,” Hammad Azhar, the minister responsible for economic affairs division, was quoted as saying by Dawn newspaper on Friday.
