After getting out from grey list of FATF Pakistan Planning to apply for FATF membership. On June 2022 Pakistan compliant on all 34 points which are given by FATF. India alway try to push Pakistan into blacklist. There is a big role of Army Chief of Pakistan to getting out from grey list to whitelist.
Now Pakistan is ready to apply for FATF Membership. Pakistan will gets lots of benefits after becoming member of FATF. As sources of Daily News Publisher confirms that Pakistan soon apply for FATF membership.
FATF Policy on Observers
1. The organisation should be inter-governmental1 and international/regional in nature, and it should not work according to private sector mechanisms.
2. The organisation should have a stated role relating to AML/CFT.
3. The organisation should endorse the FATF standards.
4. Admission of the organisation as an observer should enhance the FATF’s global reach, geographically and/or sectorally.
5. The organisation should be able to contribute to the work of the FATF.
6. If the organisation were to become an observer, reciprocity would exist between it and the FATF, including with respect to attendance at meetings and information sharing on AML/CFT issues.
7. Does the organisation participate in the work of the FSRBs?
Process Of FATF Membership
8. A person with the authority of the organisation should write to the FATF President expressing an interest in becoming an FATF observer. This expression of interest should:
- Provide information on the organisation and its activities, including a note of its relevance to AML/CFT efforts.
- Define the objectives sought behind holding FATF observer status.
- Clearly endorse the 2012 FATF Recommendations and agree to support their implementation.
- Note ways in which it could contribute to the work of the FATF and enhance its global geographical and/or sectoral reach.
9. The FATF President acknowledges the correspondence and submits the expression of interest to the Plenary for consideration.
10. The FATF President notifies the candidate of the outcome of that decision and, if it is positive, the FATF secretariat establishes points of contact for provision of information and other administrative arrangements
1 – Including international organisations of like competent authorities.
FATF Membership List
- Republic of Korea
- Gulf Cooperation Council
- South Africa
- New Zealand
- European Commission
- United Kingdom (England)
- United States of America