New Delhi: The Financial Action Task Force (FATF) has put Pakistan in the grey list till February 2020, while directing the country to make extra efforts for curbing terror financing and money laundering.

The Financial Action Task Force (FATF) is a global watchdog on terror financing and money laundering.

The FATF began a meeting to review the progress made by Pakistan in controlling money laundering and terror financing on Sunday. The meeting concluded today.

The FATF held that Pakistan will need to take more steps in these four months to curb terror financing. Following which, the final decision will be taken in February 2020.

A Pakistani delegation led by Minister for Economic Affairs Hammad Azhar told the meeting that Islamabad has made positive progress in 20 out of 27 points. The FATF expressed satisfaction on the measures taken by Pakistan and its progress in various areas.

While China, Turkey and Malaysia appreciated the steps taken by Pakistan, India has recommended its blacklisting on the plea that Islamabad has allowed Hafiz Saeed to withdraw funds from his frozen accounts.

Concerns were also raised on the tax amnesty scheme offered in Pakistan.

On the outright support extended by Turkey, China and Malaysia, the FATF decided not to include Pakistan on the blacklist and give it more time to implement the remaining measures.

According to the FATF charter comprising 36 countries, the support of at least three countries is required to not blacklist any country.

In August 2019, the Asia-Pacific Group, a regional affiliate of the FATF, also expressed concern over Pakistan’s performance due to technical flaws. Islamabad is obligated to report its performance to the group every three months.

(With IANS inputs)