Pakistan FATF Grey List: Pakistan has received significant relief. He has been removed from the grey list of FATF. The decision to remove Pakistan from the grey list has been taken in the ongoing meeting in Berlin (Germany). Let us tell you that today is the forum’s last day, and it was already expected that Pakistan would get relief.
Information related to this will now be updated on the website of the Financial Action Task Force (FATF). The official announcement to remove Pakistan from the grey list will be made in the meeting to be held in October.
What is FATF? Why is Pakistan in this?
The FATF is a body that works at an international level. It seeks to prevent global financial crimes committed to promote terrorism.
There were allegations against Pakistan that money laundering and financial assistance to terrorists are being done there. After this, he was put on the grey list. Its surveillance increases in the country set in the grey list. It is also called an increased monitoring list.
As of March 2022, 23 countries were on the grey list. It includes Pakistan, Syria, Turkey, Myanmar, Philippines, South Sudan, Uganda, Yemen, etc.
By the way, the grey list of FATF does not have restrictions like the blocklist. But this alerts the rest of the country. The global financial and banking system also understands that working here is not without danger. See an example of this. When Pakistan was placed on the grey list from 2008 to 2019, its GDP suffered a loss of 38 billion.