FATF decision.

THE decision taken by the Financial Action Task Force to keep Pakistan on the grey list until June, despite the country making significant progress on the recommended actions, has disappointed many. There are examples where other nations were taken off the list of countries under enhanced monitoring by the global watchdog although they did far less than Islamabad which worked hard to tighten its anti-terror-financing and money-laundering controls over the last two years.

Pakistan has complied with 24 out of the 27 actions suggested by the FATF. One hopes that it acts vigorously in the remaining areas to be taken off the grey list soon. The FATF announcement that Pakistan has made 'significant progress' even if some 'serious deficiencies' remain in the mechanisms to eliminate terror financing, and the government's view that the country would not be put on the blacklist again, has been a ray of hope for all concerned.

At the same time, the FATF decision should jolt the authorities out of their complacency. There is no option but to work quickly and show progress on the rest of the FATF action plan. Even though doing so will not be easy for the state, it is clear that unlike previously, the world wants complete compliance with the global body's exacting standards this time around. The FATF president's statement...

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