Pakistan to remain in grey list of FATF till February 2021.
The global terror financing watchdog, Financial Action Task Force (FATF) has announced that Pakistan will continue to remain on its grey list till February 2021. This decision has been taken since Pakistan has not been able to fulfill six out of the 27 mandates to check terror funding. FATF has strongly urged Pakistan to swiftly complete its full action plan by February 2021.
FATF objective is to combat money laundering, terror financing and other related threats to the international financial system.
It currently has 39 members which include two regional organizations, the European Commission and Gulf Cooperation Council.
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