ISLAMABAD: (DNA) – The Paris-based Financial Action Task Force (FATF) on Friday in its appraisal of the country’s progress over combating money laundering and terrorism financing called the steps satisfactory, however, advising to take quick steps to meet its May 2019 deadline, so as to be de-listed.

The FATF had placed Pakistan on a money laundering “grey list” early in 2018 but given it time to take action against further downgrade.

“Since June 2018, when Pakistan made a high-level political commitment to work with the FATF to strengthen its anti money laundering/combating financing of terrorism regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan has taken steps towards improving the regime, including by operationalising the integrated database for its currency declaration regime,” the body said in a statement.

The statement, however, urged for more steps to the work that remains to be done.

In order to qualify for a de-listing, the FATF has urged that, Pakistan should continue to work on implementing its action plan to address its strategic deficiencies.

Pakistan has taken substantial steps to curb money laundering and terrorism financing. The Pakistani agencies traced around 8500 suspicious transactions and imposed ban on the militant groups involved in extremist activities.

According to government sources, Pakistan submitted satisfactory answers to FATF’s five questions.

A meeting of FATF will review Pakistan’s case in its June meeting, the officials further said.

A meeting of Pakistani officials with FATF is expected in May this year, the officials added.