Pakistan will remain on the UN terror financing watchdog’s grey list for now. That’s what the Financial Action Task Force (FATF), which examined Pakistan’s efforts at countering terror financing and money laundering, decided at its meeting on Thursday.
FATF said Islamabad has addressed 24 of the 27 action items and gave it time till June this year to meet the pending requirements. Pakistan has been on the grey list since June 2018.
“Pakistan remains under increased monitoring. It has made significant progress in its effort to countering money laundering and counter-terrorism financing framework. However, some serious deficiencies remain. All of these deficiencies relate to areas of terror financing,” said FATF President Marcus Pleyer.
Calling upon Pakistan to strictly implement financial sanctions against all UN-designated terrorists and their associates, the FATF has sought compliance by the June deadline.