Pakistan out of FATF grey list after four years

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New Delhi, October 21

The Financial Action Task Force (FATF) on Friday allowed Pakistan to exit its grey list after four years against the backdrop of its ties with the West. Russia was banned from all deliberations of the body. Nicaragua too exited the list along with Pakistan, which had been under a close FATF monitoring since 2018. Tanzania, Congo and Mozambique were added to the list.

An on-site visit by a FATF team in August had found that Pakistan was broadly in compliance with all 34 action points it had been asked to improve upon. Pakistan can now more effectively tackle money laundering and terror-financing, said FATF chief Raja Kumar of Singapore.

Pakistan’s Minister of State for Foreign Affairs Hina Rabbani had reached Paris earlier this week with a team representing the country. Off the grey list, Pakistan will now be able to get more foreign direct investment, which had shown a downward trend recently.