Pakistan to remains on FATF grey list

 FATF decided to keep Pakistan on the grey list despite making good progress

The Financial Task Force (FATF) announced that Pakistan will remain on the grey list. Pakistani government was hoping to be taken off from grey list. But FATF decided to keep Pakistan on the list. 

The FATF held a four-day virtual session in Paris from March 1 to 4 and the decision was  announced during a press conference at the close of the meeting. As per reports, the task force reviewed the Asia Pacific Group's report on Pakistan's compliance with the watchdog's prescribed action items.

In October, the international watchdog retained Pakistan on the grey list, while noting that "good progress" had been made in completing the required action items for removal from the list.

FATF President Dr Marcus Pleyer had said that Pakistan has two concurrent action plans with a total of 34 action plan items. "It has now addressed, or largely addressed 30 of the items," he had said back in October.

Pakistan has been on the FATF’s increased monitoring list, known as the grey list, since June 2018.