The global terror financing watchdog, Financial Action Task Force (FATF) has announced that Pakistan will continue to remain on its grey list till February 2021. This decision has been taken since Pakistan has not been able to fulfil six out of the 27 mandates to check terror funding. FATF has strongly urged Pakistan to swiftly complete its full action plan by February 2021.
- FATF objective is to combat money laundering, terror financing and other related threats to the international financial system.
- It currently has 39 members which include two regional organizations, the European Commission and Gulf Cooperation Council.
Important takeaways for all competitive exams:
- The headquarters of FATF is in Paris, France.
- FATF was founded in July 1989.
- Prime Minister of Pakistan: Imran Khan.
- President of Pakistan: Arif Alvi.
- Capital of Pakistan: Islamabad.