Pakistan taken off watch list for terror funding, laundering

By MUNIR AHMED
Associated Press

ISLAMABAD (AP) — An international watchdog says it’s removing Pakistan from its so-called “gray list” of countries that do not take full measures to combat money laundering and terrorism financing. The announcement on Friday was quickly welcomed by the country’s prime minister and other government officials. The Financial Action Task Force said Pakistan made “significant progress” in improving its anti-money laundering and counter-terrorism financing policies. Being on the gray list can scare away investors and creditors, hurting exports, output and consumption. It also can make global banks wary of doing business with a country.