RAWALPINDI: Chief of Army Staff (COAS) General Qamar Javed Bajwa Friday termed the Financial Action Task Force’s (FATF) announcement as a “great achievement” for Pakistan.
The anti-money laundering watchdog announced that Pakistan has “substantially completed its two action plans” and would be removed from the grey list after it passes the on-site visit.
“Completion of FATF AML/CFT (anti-money laundering/combating the financing of terrorism) action plans by Pakistan is a great achievement,” the Inter-Services Public Relations (ISPR) said in a statement, quoting the army chief.
The COAS said it was a “monumental effort” that paved way for the country’s “whitelisting”.
The army chief said the core cell at the General Headquarters (GHQ) steered the national effort of the civil-military team that synergised the implementation of the action plan.
Although Pakistan has not been officially removed from the FATF's grey list, it may be taken off it once the watchdog visits Pakistan.
"The FATF will continue to monitor the COVID-19 situation and conduct an on-site visit at the earliest possible date," the watchdog said after its four-day plenary session concluded in Berlin.
The watchdog’s statement acknowledged that the necessary political commitment remains in place to sustain implementation and improvement in the future.
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