Pakistan is hopeful of getting off the grey list of the Financial Action Task Force (FATF) as the country’s fate banks on the decision, to be taken during the four-day plenary session of the FATF underway in Berlin.
Pakistan was retained on the grey list as the Paris-based UN watchdog judged it deficient in prosecuting the top leadership of UN Security Council-designated terror groups.
The Financial Action Task Force had last month decided to keep Pakistan on its ‘grey list’ and asked the country to take steps to curb terror financing and money laundering
Bankers in Pakistan believe further degradation by FATF could put the country's economy under serious threat.
The FATF on Thursday put Islamabad on "grey list" for failing to rein in terrorists and funding to outfits like Lashkar-e-Taiba, Jamaat-ud-Dawa and Jaish-e-Mohammed.
