The Financial Action Task Force (FATF) removed Pakistan from its gray list. The credit of this great success goes to the name of Army Chief General Qamar Javed Bajwa.
Pakistan has maintained the tradition of adhering to the global risk-based strategy. Pakistan completed all the targets given in FATF ahead of schedule. Pakistan proved to be a responsible state by implementing all the points.
The Army Chief also played a key role and ensured implementation of the points along with the institutions. India’s attempt was to blacklist Pakistan, but Pakistan Army foiled the conspiracy.
After following all points of FATF, Pakistan is moving from gray to white list. On the orders of the Army Chief, a special cell was established under the leadership of Major General. The cell created a coordination mechanism between various departments, ministries and agencies under which a complete action plan was prepared at each point.
The cell worked day and night to crack down on money laundering, terror financing and extortion. All the points regarding financial support of terrorists have been implemented. All 7 points were implemented to tackle money laundering which was a significant development.
Pakistan was given a 27-point action plan by FATF in 2018. In June 2022, all 27 action items of Pakistan were completed. The last FATF action plan by Pakistan was also completed in June 2022.
Pakistan was given another action plan by FATF in June 2021. Both FATF action plans for Pakistan consisted of 34 points. Pakistan completed the 2021 Action Plan before the set timelines of January 2023. Pakistan developed a comprehensive strategy and roadmap to address FATF’s concerns. FATF appreciated Pakistan’s progress in the list of nominees.
