ISLAMABAD (our reporter): The 4-day meeting of the Global Cooperation Review Group of the Financial Action Task Force (FATF) will start tomorrow in in Berlin, Germany to decide about removing Pakistan from the FATF grey list or not.
The meeting will be continued from 14th June to 17 June 2022 in Berlin, Germany. Reliable sources told the publication that the Minister of State for Foreign Affairs of Pakistan, Hina Rabbani Khar, will represent the country in the meeting. The matters pertaining to Pakistan’s case will be discussed on 15 and 16 June.
The delegates representing 206 members of the Global Network and observer organizations, including the International Monetary Fund, the United Nations, the World Bank, and the Egmont Group of Financial Intelligence Units, will attend the final plenary with President Marcus Pleyer in the chair.
During the meeting, the participants will address critical topics, including a report to prevent money laundering through the real estate sector and a study to assist financial institutions in assessing and mitigating money laundering and terror-financing threats.
The FATF had placed Pakistan in its grey list in June 2018. Pakistan has been trying to exclude from list since last four years. Pakistan has been implementing had FATF’s plan of actions for curbing the money laundering and terrorism financing for last four years. Pakistan has been achieved most of the targets and only two targets were remaining to achieve. But, FATF didnot relaxed its condition on Pakistan and didnt remove from the grey list.
Pakistan has economically lost billions of dollars due to FATF grey list as it faced additional cost and time for any international transaction.
The German government will hold the meeting in its capital city.