According to the Asia Pacific Group, regional body of FATF, Pakistan has successfully implemented 31 out of 40 FATF recommendations. In February 2021, Pakistan submitted its third progress report to the APG. Moreover, Pakistan has issued a number of sector-specific legislation, which provides more specific obligations for those sectors to assess and mitigate their risks.
The Financial Action Task Force (FATF) will meet in Paris for five days to decide on Pakistan’s grey list fate, staring on February 16. In October 2019, the FATF had decided to keep Pakistan on its grey list till February, giving it time to implement the FATF’s 27-point action plan. Pakistan is on its grey list because of deficiencies in the country’s Anti-Money Laundering and Countering of Terrorist Financing regulations.