Eisenhower executive office building, Building in Washington, D.C., United States

FATF President Xiangmin Liu, while expressing satisfaction over steps taken by Pakistan against terrorism and corruption, on Friday announced that Pakistan will remain on its Grey List till February 2020.The decision was taken after a five-day plenary of the FATF. The inter-governmental organization has urged Pakistan to address all tasks given to it till February 2020.Earlier, a Pakistani delegation led by Minister for Economic Affairs Hammad Azhar told the FATF meeting that Pakistan has made positive progress in 20 out of 27 points.The FATF examined the compliance report of Pakistan in its meeting and expressed satisfaction over new risk assessment study of Pakistan. China, Turkey and Malaysia, have supported the stance of Pakistan.The Pakistani officials assured the FATF that Islamabad adheres to all FATF targets and anti-money laundering laws have been made according to international standards.The task force directed Islamabad to take more measures for complete elimination of terror financing and money laundering while expressing serious concerns over the lack of progress in addressing terror financing risks."The FATF strongly urges Pakistan to swiftly complete its full action plan by February 2020," it said in its statement. "Otherwise, should significant and sustainable progress not be made across the full range of its action plan by the next Plenary, the FATF will take action.""Since June 2018, when Pakistan made a high-level political commitment to work with the FATF and the Asia-Pacific Group (APG) to strengthen its anti-money laundering (AML) and counter terror financing (CTF) regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan has made progress towards improving its AML/CFT regime, including the recent development of its money laundering/terror financing risk assessment," the FATF said.At the October 2019 plenary, according to the statement, the country reiterated its political commitment to completing its action plan and implementing AML/CFT reforms."Pakistan should continue to work on implementing its action plan to address its strategic deficiencies," it added.However, "while noting recent improvements, the FATF again expresses serious concerns with the overall lack of progress by Pakistan to address its TF risks, including remaining deficiencies in demonstrating a sufficient understanding of Pakistan's transnational TF risks, and more broadly, Pakistan's failure to complete its action plan in line with the agreed timelines and in light of the TF risks emanating from the jurisdiction," the statement read."To date, Pakistan has only largely addressed five of 27 action items, with varying levels of progress made on the rest of the action plan."The FATF strongly urges Pakistan to swiftly complete its full action plan by February 2020."'Dawn' had reported earlier that the FATF meeting in Paris had on Tuesday reviewed measures Islamabad has already taken to control money laundering and terror financing. However, participants of the meeting had made it clear that Islamabad will have to take further steps in the next four months.The FATF has linked the blacklisting of Pakistan with unsatisfactory steps to curb money laundering and terror financing. The final decision will be made in February 2020.In its response to the development, the Pakistan finance ministry said in a statement that Pakistan's delegation at the FATF reaffirmed its political commitment to fully implement the action plan."The plenary meeting decided to maintain status quo on the FATF action plan.""The FATF meeting considered Pakistan's progress report on the FATF action plan and Pakistan's APG Mutual Evaluation report (MER)," it said.According to the statement, the delegation also held sideline meetings with various delegations and briefed them about the progress made by Pakistan on the FATF action plan and steps taken for strengthening its AML/CFT framework.A session on technical assistance and training needs of Pakistan was also organised in collaboration with United Nations Office on Drugs and Crime (UNODC) and APG Secretariat which was attended by a number of interested countries and multilateral agencies including China, the United States, the United Kingdom, Canada, Japan, EU, World Bank, the International Monitory Fund, and the Asian Development Bank.( With inputs from IANS )

Eisenhower Executive Office BuildingFOLLOW

Eisenhower executive office building, Latest News

Researchers have found that sugar-sweetened acidic drinks, such as soft drinks, is the common factor between obesity and tooth wear among adults. ...

Singer John Legend recently proved that he can do anything for wife Chrissy Teigen which will just make you awe. ...

In a bid to ensure sufficient supply of all essential commodities at a fair price ahead of the next round of Naga peace talks scheduled to be held on October 31, Mpur government has asked officials concerned to keep an eye on stockists. ...

Tensions that have slowed international trade and increased uncertainty, the global economy is expected to see slower growth in a broad range of economies over the next half decade. ...

Former US Secretary of State and National Security Advisor Henry Kissinger on Monday said that the United States and India are best suited to grow together on strategic issues like security and economic evolution. ...

Russia and the United States must normalize the work of each other's diplomatic missions, and Moscow is ready to do that on the basis of the "zero option" plan, Russian Foreign Minister Sergei Lavrov said. ...

US Defense Secretary Mark Esper said roughly 1,000 US troops withdrawing from the northeastern Syria will be repositioned into western Iraq, according to a transcript released by the Pentagon. ...

The Financial Action Task Force (FATF) on Friday formally announced that Pakistan will remain on its grey list for the next four months, handing it a final lifeline. ...