Progress made to remove Pakistan from grey list.

KARACHI -- Significant progress has been made between the May-September period to meet the action plan items set by Financial Action Task Force (FATF) in different areas to demonstrate effectiveness of Pakistan's AML safety regime, said State Bank Governor Dr Reza Baqir on Monday.

After inaugurating the two-day Anti-Money Laundering (AML)/Combating Financing of Terrorism (CFT) and Trade-Based Money Laundering (TBML) Conference on Monday, Baqir said that there was a major rethink of the approach being taken by the authorities and a number of steps were taken to make progress on these issues.

He, however, stressed the need of putting more effort to make progress on remaining areas to ensure that the country is out of grey list in the next FATF meeting.

He said the central bank has arranged many AML/CFT outreach and awareness programmes for its regulated entities and stakeholders. The conference is a useful platform to understand the AML/CFT challenges being faced globally and the best practices followed in mitigating such challenges, he added.

In the context of implementing AML/CFT requirements, the...