ISLAMABAD, August 25: The Asia Pacific Group (AGP) of the Financial Action Task Force (FATF) has upgraded Pakistan’s technical compliance ratings in a sign that the country is inching closer to an exit from the grey list of sanctions.
Earlier this year, FATF – the international body to check terror financing and money laundering – had acknowledged Pakistan’s efforts to curb money laundering and terror financing and declared that the country has met 34 action items it was assigned.
However, a final decision on taking Pakistan off of the gray list remained contingent upon the onsite visit and verification of Pakistan’s compliance. The decision will be announced in October.
However, the country has taken another step in that direction by getting AGP approval on technical compliance. – SABAH
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