Prime Minister Shehbaz Sharif hails removal of Pakistan from EU’s High Risk Countries list

ISLAMABAD – Prime Minister Shehbaz Sharif has welcomed Pakistan’s removal from the European Union’s list of “High-Risk Third Countries,” saying that it will help the nation’s organizations, businesses, and citizens. He stated that Pakistan’s removal from the EU’s most recent list of high-risk third-countries was a significant development that would benefit all of our businesses, people, and entities. The government’s unwavering commitment to further bolstering the anti-money laundering and anti-terror financing regime is reflected in it, according to the prime minister.

The European Union (EU) authorities removed Pakistan from the list of ‘High-Risk Third Countries’ that had strategic deficiencies in the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) regime and posed a serious threat to their financial system.

According to the Delegated Regulation, following the measures implemented to address the action plans agreed with the Financial Action Task Force (FATF), Nicaragua, Pakistan and Zimbabwe remedied the strategic deficiencies in their respective AML/CFT regimes and no longer pose a significant AML/CFT threat to the international financial system.