The Asia Pacific Group (APG) of the Financial Action Task Force (FATF), an international body tasked with curbing money laundering and terrorist financing, has called on Pakistan to curb money laundering and terrorist financing. Pakistan remains on the watch list with observations of progress in implementing the FATF's technical recommendations.
A recent Mutual Review Report released by the Asia-Pacific Group states that Pakistan has effectively implemented two of the 40 recommendations made by the Financial Action Task Force, partially on 26 and large on 9. To what extent. The report states that Pakistan will remain on the watch list further and Pakistan will keep the Asia-Pacific Group informed of the steps being taken to curb money laundering and terrorist financing. This has been revealed in a recently released Mutual Review Report.
The report comes at a time when the Financial Action Task Force (FATF) is set to meet in Paris next week to decide whether to keep Pakistan on the organisation's gray list. In June 2018, it was added to the organization's gray list for not taking effective measures to prevent terrorism and money laundering.
The Asia-Pacific Group's recent report is a message to Pakistan that if the Asia-Pacific Group made 40 recommendations to Pakistan on FATF terms, experts say they should be implemented effectively. It is very likely that Pakistan may not be included in the blacklist and Pakistan may be retained in the gray list. Pakistan is not part of the FATF but Pakistan is part of the Asia Group and the Asia Pacific Group of some countries. Representation in FATF.
The last time the FATF reviewed the implementation of the recommendations made to Pakistan, then Pakistan got 51 points. If the points are below 50 then the blacklist starts and if the points are between 50 and 75 then Is maintained in the gray list. Experts say that if the three FATF members China, Malaysia and Turkey continue to vote in favor of Pakistan, some countries' attempts to blacklist Pakistan will not succeed. It is in Pakistan's own interest to follow the recommendations of the Asia-Pacific Group.
According to experts, Pakistan is an important part of the world's financial system. It is a country with imports and exports of سے 80-90 billion and if there is any negative reporting from the Asia-Pacific Group, it could be a shock to non-Pakistanis working in Pakistan. Domestic banks attach great importance to Asia-Pacific report. Pakistan has financial and trade relations with the rest of the world in Pakistan's banking sector and international transactions. It should be noted that India has a monopoly on Asia-Pacific Group and is against Pakistan. Keeps taking negative steps.
One of the reasons for India's supremacy is Islamabad's friendly relations with more than a dozen of the 41 countries in the group, but due to the incompetence and incompetence of Islamabad's bureaucracy and the Foreign Office, Pakistan has never had the support of friendly countries. While India lobbies vigorously against it and it is not limited to Asia Pacific Group or FATF but in every case Indian Foreign Office to protect Delhi's interests and to harm Pakistan. The process remains active.
Earlier, Foreign Minister Shah Mehmood Qureshi while talking to reporters in Multan had said that Pakistan was fully implementing 21 out of 27 recommendations of the Financial Action Task Force, while significant progress had been made in the remaining six. That is why Pakistan will soon be removed from the gray list of the Financial Action Task Force. The Foreign Minister said that Pakistan would attend the FATF Virtual Meeting in Paris from October 21 to 23. He hoped that Pakistan would soon be removed from the FATF's gray list. In June 2018, the Action Task Force (ETF) on the gray list for failing to take effective measures to curb terrorism and money laundering proposed a strategy for Pakistan, following which it was removed from the organization's gray list. Could.
Pakistani officials say it has taken a number of effective measures to curb money laundering and terrorist financing, while Pakistan's parliament has made necessary amendments to a number of laws to curb money laundering and terrorist financing. Has been approved.
