Exiting The Grey List.

 
FREE EXCERPT

The State Bank Governor Reza Baqir has stated that the Financial Action Task Force (FATF) and International Monetary Fund (IMF) have both appreciated Pakistan for its efforts in curbing money laundering. This is excellent news, even though we still have some work to do. Pakistan will take action sooner rather than later, because the next review will be held in February 2020. The government will also have to establish its progress a few weeks before that in January, with the Joint Review Group of the Asia Pacific Group looking to scrutinise compliance in this sphere before FATF does.

With less than two months to go, we must show tangible progress beyond curbing money laundering as well. Terror financing and charging and prosecuting those accused of terrorism will also have to follow clamping down on money laundering. According to the government, steps are already being taken in these areas as well, but will they be enough to finally extricate Pakistan out of the grey list ?

Opinion on Pakistan's performance seems to be divided. Most experts have said that the country is on its way to get its name off the grey list . Pakistan has been on the grey list since June 2018, and has only improved its capacity to curb money laundering and terror financing; Pakistan must argue its case properly, and guard...

To continue reading

REQUEST YOUR TRIAL