FM welcomes FATF’s acknowledgement; reaffirms objective of strengthening economy

Islamabad: Foreign Minister Bilawal Bhutto Zardari Sunday while welcoming Financial Action Task Force’s unanimous acknowledgment of completion of action plans, reaffirmed that the government of Pakistan was committed to continue this positive trajectory of reforming the financial sector as part of its larger strategic objective of strengthening the economy.

The foreign minister, in a statement issued by Foreign Office Spokesperson, said that announcement by the FATF plenary of granting an on-site visit to Pakistan was a welcome development.

It also reflected the remarkable progress made by Pakistan to enhance the effectiveness of its anti-money laundering/combating the financing of terrorism (AML/CFT) regime, he added.

“I am certain that this good news from FATF will restore confidence in Pakistan’s economy and act as a catalyst for sustained growth and development. Let me reiterate the Government of Pakistan’s high level commitment to continue aligning our AML/CFT regime with global standards,” the foreign minister said.

He said that they looked forward to the on-site visit and a successful and early culmination of the process leading to Pakistan’s exit from the grey list.

Foreign minister Bilawal also commended the hard work and dedicated efforts of Pakistan’s FATF team that led to the successful completion of all technical requirements of both FATF Action Plans of 2018 and 2021.

This was the result of concerted national efforts and complete harmony of interests by all stakeholders, he observed.