Pakistan Strategy_FATF grey list_Light at the end of the tunnel, (AKD Daily, Jun 20, 2022)
FATF grey list: Light at the end of the tunnel
At its June 2022 Plenary, the FATF has made the initial determination that Pakistan has
substantially completed its two action plans, covering 34 items, and warrants an onsite
visit to verify that the implementation of Pakistan’s AML/CFT reforms has begun.
The country’s efforts were acknowledged by the global watchdog and it encouraged
Pakistan to continue to work to address any lingering deficiencies in its system and
gain full compliance, thus enabling itself to fully integrate with the world’s capital markets
and therefore improve its access to global capital.
The Paris-based group added Pakistan in 2018 to the grey list, which is composed of
countries with a high risk of money laundering and terrorism financing but which have
formally committed to working with the task force to make the necessary changes.
This designation had severely restricted country’s capabilities to raise capital from
international markets.
Removal from the grey list, at a time when the country is struggling with yet another
economic crisis, would be a big boost for Pakistan as global investors and banks would
no longer have to worry about any reputational risks associated with doing business
with the country while it’s on a watch list for terrorist financing.
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AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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