The International Cooperation Review Group (ICRG) is a part of the Financial Action Task Force (FATF) which is responsible for reviewing Pakistan’s progress on the 27-point action plan to get off the grey list. In the ICRG’s recent review, Pakistan has been found as largely compliant on 24 of the 27 action points mentioned in the action plan.
This is a great progress for Pakistan as the country is developing momentum to achieve all the action points. A plenary meeting of the FATF will be held from 21st to 25th June which will review Pakistan’s progress on all 27 points in detail. The recent review was done at a virtual meeting by different international observer countries like the UK, USA, China, France, and India.
In terms of performance, Pakistan has done well and the government hopes that the country will be able to make it out of the grey list as soon as possible. However, the US withdrawal from Afghanistan is an important geostrategic development that will determine Pakistan’s position on the grey list. A safe withdrawal can result in restricting the role of non-state actors in terror financing activities which in turn will benefit Pakistan’s standing on the FATF.