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Pakistan placed on FATF’s ‘grey list’

Pakistan placed on FATF's 'grey list'

TIL Desk/World/Islamabad/ Pakistan has been placed on the grey list by the Financial Action Task Force for failing to curb anti-terror financing despite its diplomatic efforts to avert the decision, an official said today. The decision was taken late last night at the global financial watchdog Financial Action Task Force’s (FATF) planery session in Paris where Finance Minister Shamshad Akhtar represented Pakistan, according to official sources.

The annnoncement comes a day after Pakistan submitted a comprehensive 26-point action plan to the FATF to choke the funding of militants groups, including Mumbai attack mastermind Hafiz Saeed-led JuD and its affiliates, to avoid being blacklisted by it. The placement on to grey list could hurt Pakistan’s economy as well as its international standing.

Earlier in the day, Akhtar had urged the FATF to remove Pakistan from its grey list. As the 37-nation FATF plenary began its proceedings on Pakistan’s 26-point action plan spanning over a period of 15 months, the Pakistani delegation apprised the watchdog of steps Islamabad had taken to weed out money laundering and terror financing to avoid the country being placed on the grey list.

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