BERLIN: Pakistan will stay on the grey list despite making compliance to all the action plans set by the Financial Action Task Force (FATF). An onsite visit to Pakistan is required to verify the implementation of the country, a statement issued on Friday by the watchdog said.
READ MORE: FATF retains Pakistan in grey list; admits progress
The watchdog said that FATF will “monitor the COVID-19 situation and conduct an on-site visit at the earliest possible date”.
The FATF officials will hold a press briefing shortly on the outcomes of the four-day plenary session of the watchdog that reviewed Pakistan’s action plans.
A government official had earlier said in a conversation with the BBC that matters will take seven to eight months to settle even after Pakistan has made its way out of the watch list as the FATF team will visit Pakistan for an inspection.
Pakistan had launched a massive diplomatic effort to get off the FATF grey list. Minister of State for Foreign Affairs Hina Rabbani Khar, who is also the chair of Pakistan’s National FATF Coordination Committee, is leading the Pakistan delegation at the plenary meeting that started on June 14, 2022.