Pakistan was released from the FATF list

Pakistan has been freed from the Financial Action Task Force (FATF) gray list. For the past four years, FATF has grayed Pakistan for money laundering and financing of 'extremist' activities. News from Jio News.

The FATF said Pakistan has shown signs of reducing the financing of extremist activities and gradually overcoming the technical complexities involved. Being on the gray list means the cessation or reduction of financial assistance from institutions such as the International Monetary Fund (IMF), World Bank, Asian Development Bank, European Union. Which is very difficult for Pakistan with poor economy to handle.

The Paris-based intergovernmental organization had put Pakistan on the list in June 2018.

FATF President Raja Kumar announced the removal of Pakistan from the list. Earlier, a source claimed, FATF had imposed 34 conditions on Pakistan to stop financial and other support to terrorism. Islamabad has fulfilled all the conditions of that action plan!

Not only Pakistan, Nicaragua has also come out of FATF's gray list. On the other hand, the situation in Myanmar has worsened. They have reached the gray to black list.