FATF satisfied with Pakistan report

The Mega Decision will take place today. Will Pakistan exclude the grey list and land on the white list?

Fingers crossed.

FATF (Financial Action Task Force) will announce its mega decision today. Will Pakistan remain in the grey list for another few months or will it receive a clean chit to enter in the white list.

What Happened in the FATF Joint Meeting?

In the initial meeting, FATF showed 22 demands, including money laundering and terror financing, in which Pakistan has provided satisfactory reports. Pakistan's performance on the action plan provided by the Financial Action Task Force has reportedly satisfied the global watchdog.

According to a Tweet:

Team Head

Minister for Economic Affairs Hammad Azhar headed the Pakistani team, he has justified the country's compliance report during the joint group meeting of FATF held in Beijing, China. The meeting went well for Pakistani team. The US and European countries showed support for Pakistan EXCEPT for as always INDIA. However, no other country raised irrelevant questions on Pakistan's compliance. The Pakistani team will stay attentive to defend the report further if required by FATF on any point demanded.

Slight Chances to REMAIN in Grey List

However, there are chances of a third scenario that Pakistan may still stay in the grey list for the next 3 to 6 months. After welcoming US support, the chances increased for Pakistan to exclude from the Greylist and Include in White List.

When & Who?

The meeting continued for three days from January 21st to 23rd, 2020, in which Pakistan's delegation of 17 members participated. Out of 27 actions, Pakistan found fully compliant on five-point in the last meeting, and now Pakistan is steering efforts to comply with the remaining on 22 major points. Pakistan team is expecting that the FATF may clear it on 8 to 10 more points, but with US and EU support, things are moving in the right direction. Pakistan should not land on the FATF blacklist because of its far-reaching negative impacts on foreign inflows. Pakistan would be attentive on assembling more tactful support of voting members of FATF's plenary meeting of the FATF scheduled to be held in Paris on February 16th, 2020. To steer clear from Blacklist, Pakistan needs the support of three countries for coming out of grey and directly landing into the White list, Islamabad needs 12 votes out of 39 total votes.

India Faced Embarrassment?

Let's not forget our neighbourhood country India who faced immense embarrassment as the US and European countries did not support their tough but mostly irrelevant questions during the joint group meeting.

Positive tweets for Pakistan:

Pakistan Receive Massive Support from China:

Even Pakistani Batman tweeted on the situation:

The Ending:

It is going to be a significant achievement in the history of Pakistan to land clear in the White List as it would stronger the country's economy. This would encourage more investors to invest in mega projects in the country. Trade would grow immensely, and many more good things would happen for the economy of Pakistan. At this moment, every Pakistani is wondering if Pakistan would be successful to land in the white list of FATF, or would it remain in Grey list for the upcoming months?