America’s response to Pakistan’s withdrawal from the Financial Action Task Force (FATF) gray list has come to light.
According to reports, the US Department of State has said in its statement that while recognizing Pakistan’s efforts and progress, Pakistan has met the reduction in the targets given by FATF.
The US State Department has said that these efforts led to Pakistan’s exit from the FATF gray list while encouraging continued anti-money laundering and counter-financed terrorism initiatives.
It should be noted that a 2-day meeting of FATF was held in Paris in which the removal of Pakistan’s name from the gray list was reviewed.
The Pakistani delegation was led by Minister of State for Foreign Affairs Hana Rabbani Khar. After the meeting, FATF formally announced the removal of Pakistan from the gray list.
Getting out of FATF’s gray list will make it easier for Pakistan to get foreign funding.
According to the declaration, Pakistan will remain under the monitoring of FATF, Pakistan needs more implementation of the Anti-Money Laundering and Terror Financing Law.