Islamabad (HRNW) After nearly four years and despite efforts of neigboring India, Pakistan was on Friday upgraded out of the gray list of the Financial Action Task Force (FATF).
In a statement issued by the FATF on Friday, it noted the “significant progress” in improving its anti-money laundering (AML) and combating financing of terrorism (CFT) regime.
“Pakistan has strengthened the effectiveness of its AML/CFT regime and addressed technical deficiencies that the FATF identified in June 2018 and June 2021, the latter of which was completed in advance of the deadlines, encompassing 34 action items in total,” the global anti-money laundering and terror financing watchdog said.
“Pakistan is therefore no longer subject to the FATF’s increased monitoring process,” it added.
Pakistan, it said, will continue to work with Asia/Pacific Group on Money Laundering (APG) to further improve its AML/CFT system.
Shortly after the news broke, Prime Minister Shehbaz Sharif took to social media platform Twitter to congratulate the nation on the immense achievement.
“Pakistan exiting the FATF grey list is a vindication of our determined and sustained efforts over the years,” he said while congratulating the civil and military leadership of the country along will all other relevant institutions whose hard work led to Pakistan exiting the gray list.
He quickly added, “I would particularly commend the role and efforts of Foreign Minister Bilawal Bhutto [Zardari], Army Chief General Qamar Javed Bajwa and their teams and all political parties for putting up a united front to get Pakistan out of the grey list.”
“Aap sab ko bohat bohat Mubarak,” he concluded.
Earlier, Foreign Minister Bilawal Bhutto Zardari posted on Twitter “Congratulations to the people of Pakistan. Pakistan has officially been removed from the FATF ‘grey list’.