Pakistan is likely to be off the ‘grey list’ of the Financial Action Task Force (FATF), when it meets in Paris from October 18 to 21. Highly placed sources have told India Today that it is compliant on all 34 points in the FATF action plan set out by the global financial watchdog, of which 27-point action plan was related to terror financing and 7-point action plan was to do with money laundering.
A 15-member team of the FATF concluded a five-day onsite visit to Pakistan from August 29 to September 2, and met officials concerned about the financial system of Pakistan, including the FIA, FBR, the state bank, finance ministry, foreign office and other concerned institutions, and prepared an onsite report on Pakistan.
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The findings of the team, which included representatives from the UK, the US, Germany, France, Australia, EU, Asia Pacific Group (APG) and others, will be submitted and discussed during the plenary session.
The Pakistan delegation will be headed by Minister of State for Foreign Affairs, Hina Rabbani Khar.
Officials privy to the proceedings are fairly sure that they will be off the list. However, there is a small possibility of delay to February if certain nations make a strong case about concerns regarding cash couriers (hawala), money laundering, which continues in the country.