New Delhi:
Pakistan has been experiencing a big relief. Pakistan’s name has been removed from FATF’s grey list. This means that a lot of economical restrictions will be lifted off regarding Pakistan.
The decision was taken in a meeting in Berlin (Germany) where it was collectively decided that Pakistan will finally be removed from the FATF’s grey list.
There were speculations regarding the fact that in the meeting which was ongoing in Berlin, it was predicted that Pakistan’s name will finally be dropped from FATF’s grey list.
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Today was the last day of the meeting ongoing in Berlin and this decision was finally taken.
What is FATF?
FATF
or Financial Action Task Force is a global money laundering and terror funding watchdog. It is an inter-governmental body which work towards setting up international standard that aim to prevent illegal activities and the harm cause to society.
What is FATF’s GREY list?
If FATF places a jurisdiction under increased monitoring, it generally means the country has committed to resolve swiftly the identified strategic deficiencies within agreed timeframes and is subject to increased monitoring.
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