Pakistan Taken Off from 'Grey' List for Terrorism Financing

Pakistan has been removed from an international grey list that warrants increased surveillance for terrorism financing, the head of the international money laundering watchdog which makes the list said on Friday.

The decision, which provides a boost to the reputation of the crisis-ridden South Asian nation, was taken at the end of a two-day meeting in Paris, Financial Action Task Force (FATF) president T Raja Kumar told a news conference, reports Reuters. 

"After a lot of work by the Pakistani authorities, they have worked through two separate action plans and completed a combined 34 action items to address deficiencies in their anti-money laundering and counter-terrorist financing systems," FATF president T Raja Kumar told a news conference in Paris.

In a meeting in June, the FATF had said it was keeping Pakistan on the so-called "grey list", but said it might be removed after an on-site visit to verify progress.