KARACHI: Defence Minister Khawaja Asif said that the Financial Action Task Force (FATF) decision not to place Pakistan back on its “grey list”, despite a concerted effort by India and Israel, was a major win.

In a post on X on Sunday, Mr Asif said that the FATF had decided against re-listing Pakistan following a meeting of its International Cooperation Review Group a day earlier.

“It is a big victory for Pakistan that despite all the conspiracies of India and Israel, Pakistan has not been included in the grey list,” Mr Asif wrote. He credited the decision to strong support from key allies.

“China took a clear stance and supported relief for Pakistan, while Turkey endorsed China’s stance,” Asif said. “Japan also fully supported Pakistan as it is the co-chair of the Asia Pacific Group (APG).”

The FATF, a Paris-based global watchdog that monitors money laundering and terrorism financing, met this week. Its so called ‘grey list’ places countries under increased monitoring until they address identified flaws in their financial systems. Being on the list subjects a country to more intense oversight, which can affect its banking and economic standing with international lenders.

Pakistan was removed from the list in October 2022 after four years of scrutiny.

Published in Dawn, June 16th, 2025