ISLAMABAD, 23 June 2021, (TON): The Asia Pacific Group (APG), a regional affiliate of the Paris-based FATF , on Money Laundering in its second follow-up report on Mutual Evaluation of Pakistan released here downgraded the country on one criterion and kept Pakistan on "Grey List".

Meanwhile, Foreign Minister Shah Mahmood Qureshi in a ststement here in Islamabad has said that the Financial Action Task Force (FATF) has no justification to keep Pakistan on its grey list.

Earlier this month, APG on Money Laundering improved Pakistan’s rating on 21 of the 40 technical recommendations of the FATF against money laundering and terror financing, but retained it on ‘Enhanced Follow-up’ for sufficient outstanding requirements.

The outcomes of the FATF Plenary will be published on Friday, 25 June 2021, at the close of the meeting. However, the report had said Pakistan was re-rated to ‘compliant’ status on five counts and on 15 others to ‘largely compliant’ and on yet another count to ‘partially compliant’. Overall, Pakistan was fully ‘compliant’ with seven recommendations and ‘largely compliant’ with 24 others. The country was ‘partially compliant’ with seven recommendations and ‘non-compliant’ with two out of total 40 recommendations. All in all, Pakistan was compliant or largely compliant with 31 out of 40 FATF recommendations.

Under the German Presidency of Dr Marcus Pleyer, delegates representing 205 members of the Global Network and observer organisations including the International Monetary Fund, the United Nations and the Egmont Group of Financial Intelligence Units will take part in the virtual meeting of the FATF Plenary.