Pakistan Prime Minister Shahbaz Sharif in his first tweet after being out of FATF gray list said that being out of this list is a testament to our determined and continuous efforts over the years. I would like to congratulate our civil and military leadership as well as all those institutions.
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Pakistan has been removed from the gray list of FATF. About 4 years ago to the neighboring country FATF was put on the gray list. The FATF issued a statement saying, ‘Pakistan has been taken out of the gray list of FATF. Pakistan has been on the FATF gray list since 2018. This decision has been taken in view of Pakistan working with the Asia Pacific Group on money laundering, improving anti-money laundering and counter-terrorism financing systems.
Prime Minister of Pakistan after being removed from the gray list of FATF Shahbaz Sharif In his first tweet, he said, ‘Getting out of the FATF gray list is a testament to our determined and unrelenting efforts over the years. I would like to congratulate our civil and military leadership as well as all those institutions whose hard work has led to success today. Wishing you all the very best.
He further said, ‘I especially like the External Affairs Minister. bilaval BhuttoI appreciate the role and efforts of Army Chief General Qamar Javed Bajwa and his teams and all political parties, who have formed a united front to get Pakistan out of the gray list. Alhamdulillah!’
I would particularly commend the role & efforts of Foreign Minister Bilawal Bhutto, Army Chief General Qamar Javed Bajwa and their teams & all political parties for putting up a united front to get Pakistan out of the gray list. Alhumdulillah! https://t.co/LkX5tupMQe
— Shehbaz Sharif (@CMShehbaz) October 21, 2022
India said this
At the same time, after Pakistan was out of the gray list of FATF, the Indian Ministry of External Affairs has issued a statement. Foreign Ministry spokesman Arindam Bagchi said that after the FATF investigation, Pakistan has been asked to take action against well-known terrorists. Especially against the terrorists who were involved in the 26/11 attack. Bagchi said that this is a matter of global interest. Pakistan must continue to act relentlessly against terrorism and terrorist financing.
“…As a result of FATF scrutiny, Pakistan has been forced to take some action against well-known terrorists, including those involved in attacks against the entire international community in Mumbai on 26/11..,” Ministry of External Affairs (MEA) spokesperson Arindam Bagchi says. pic.twitter.com/VwWv7EobxZ
— ANI (@ANI) October 21, 2022
What did the FATF say?
The FATF in its plenary meeting held in Paris on 20-21 October decided to remove Pakistan from the gray list. “Pakistan has made its mechanisms to combat money laundering and terrorist financing more effective and to meet the commitments of its Action Plans on Strategic Deficiencies, it has addressed the technical gaps referred to by the FATF,” the FATF said. did in June 2018 and June 2021. It has completed the respective commitments well in advance of the stipulated time frame, which included a total of 34 action points.
The FATF said, ‘Therefore, Pakistan is no longer subject to the enhanced monitoring process of the FATF. Pakistan will continue to work with APG to further improve its mechanisms to combat money laundering and terrorist financing.
Pakistan can bring back the faltering economy
After being out of the gray list, Pakistan can try to get financial help from the International Monetary Fund (IMF), World Bank, Asian Development Bank (ADB) and European Union (EU) to bring its faltering economy back on track. At the same time, the FATF has included Myanmar in its black list for the first time. High risk areas are kept in the black list where action needs to be taken. (with input from language)
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