ISLAMABAD: The Financial Action Task Force (FATF), a global anti-money laundering and anti-terror financing watchdog, has removed Pakistan from a list of countries under "increased monitoring" for terrorism financing, FATF and Pakistani officials said on Friday.
Pakistan successfully implemented 34 action points to counter money laundering and terror financing to get off the list of countries with vulnerable financial systems. FATF added Pakistan to its 'grey list' in June 2018.
The FATF chairman welcomed Pakistan's significant progress in implementing its action plans as he announced the country's removal from the list.
"Pakistan has been taken off the grey list," Pakistani State Minister for Foreign Affairs Hina Rabbani Khar announced in televised comments Friday night.
"This would not have been possible without a consensus across the entire political spectrum."
In a meeting in June, FATF had said it was keeping Pakistan on the 'grey list,' but it could be removed after an on-site visit to verify progress.
Prime Minister Shehbaz Sharif expressed his pleasure over the removal of Pakistan's name from the FATF 'grey list.'
“Pakistan exiting the FATF grey list is a vindication of our determined and sustained efforts over the years,” he said on Twitter.
“I would like to congratulate our civil & military leadership as well as all institutions whose hard work led to today's success.”
