PARIS: A six-day meeting of the Financial Action Task Force (FATF) is set to begin today on Sunday to assess Pakistan’s performance on the compliance of the 27 points to control terror financing and money laundering would be reviewed.
As per details, over 800 representatives from 205 countries and jurisdictions around the world will attend the meeting.
Moreover, a Pakistani delegation will present the conformity report and it is expected that the country would not be put on the blacklist due to its action against money laundering.
In October 2019, the Paris-based organization had given a final deadline to Pakistan to stop the loopholes in the financial system in line to shun blacklisting. It had announced that the country will remain on the grey list until February 2020.
In its official statement, the international watchdog had acknowledged the progress made by Pakistan to control money laundering and terror financing.
READ MORE: Pakistan likely to be out of terror watchdog FATF’s grey list
Placing a country on blacklist generally results in economic sanctions and trade penalties imposed and implemented by the G-7 countries.
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