Islamabad: The Financial Action Task Force (FATF) is all set to decide on Pakistan’s grey list status in a virtual meeting scheduled later this month, according to a media report on Monday.

The Paris-based global money laundering and terrorist financing watchdog had placed Pakistan on the grey list in June 2018 and asked Islamabad to implement a plan of action to curb money laundering and terror financing by the end of 2019 but the deadline was extended later on due to COVID-19 pandemic.

Seeking to wriggle out of the FATF’s grey list, Pakistan in August imposed financial sanctions on 88 banned groups and their leaders, including Jamaat-ud-Dawa (JuD) chief Hafiz Saeed, Jaish-e-Mohammed (JeM) chief Masood Azhar and underworld don Dawood Ibrahim.

The virtual FATF plenary scheduled for October 21-23 will decide if Pakistan should be excluded from its grey list, based on a review of Islamabad’s performance to meet global commitments and standards on fight against money laundering and terror financing (ML&TF), the Dawn News reported.

The meeting was earlier scheduled in June but Islamabad got an unexpected breather after the global watchdog against financial crimes temporarily postponed all mutual evaluations and follow-up deadlines in the wake of grave health risk following COVID-19 pandemic, it said.

The agency also put a general pause in the review process, thus giving additional four months to Pakistan to meet the requirements.

In February, the FATF gave Pakistan, which missed 13 targets, a four-month grace period to complete its 27-point action plan against ML&TF committed with the international community.

In its third plenary held virtually in June, the FATF decided to keep Pakistan in the grey list as Islamabad failed to check flow of money to terror groups like Lashkar-e-Taiba (LeT) and Jaish-e-Mohammed (JeM).

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