Global anti-terrorism watchdog Financial Action Task Force on Thursday removed Pakistan from its “grey list” after four years. The grey list refers to countries that have been put under increased monitoring.

The exit from the increased monitoring list means Pakistan can now have more access to foreign aid and loans.

“Pakistan has strengthened the effectiveness of its AML/CFT [anti-money laundering and counter-terrorist financing] regime and addressed technical deficiencies to meet the commitments of its action plans regarding strategic deficiencies that the FATF identified in June 2018 and June 2021,” the Financial Action Task Force said in a statement.

Advertisement

Besides Pakistan, Nicaragua was removed from the FATF “grey list” while Congo, Tanzania and Mozambique were added to it. Myanmar was added to the FATF “black list” – which identifies nations with weak anti-money laundering and counter-terrorist funding regulatory frameworks.

On Thursday, Pakistan Prime Minister Shehbaz Sharif said that the exit from the FATF “grey list” vindicated the country’s determined and sustained efforts over the years.

“I would like to congratulate our civil and military leadership as well as all institutions whose hard work led to today’s success,” Sharif wrote in a tweet. “I would particularly commend the role and efforts of Foreign Minister Bilawal Bhutto, Army Chief General Qamar Javed Bajwa and their teams and all political parties for putting up a united front.”

Meanwhile, India said that due to scrutiny by the FATF, Pakistan has been forced to take some action against well-known terrorists, including those involved in the 2008 Mumbai terror attack.

“It is in global interest that the world remains clear that Pakistan must continue to take credible, verifiable, irreversible and sustain action against terrorism and terrorist financing emanating from territories under its control,” the Ministry of Foreign Affairs said in a statement.