Shabbar Zaidi congratulates HBL chief Allana on FATF feat

KARACHI: Former chairperson of the Federal Bureau of Revenue (FBR) Shabbar Zaidi congratulated Habib Bank Limited's Chairman Sultan Ali Allana and his team for their efforts to ensure Pakistan's removal from the grey list of the Financial Action Task Force (FATF).

Earlier today, the world's money laundering and terror-financing watchdog announced that Pakistan is no longer subject to its increased monitoring process.

Shabbar took to Twitter to congratulate Allana and wrote: "I congratulate Mr Sultan Allana of HBL and his team for excellent and tireless work with respect to FATF. On national issues we are united. Pakistan Zindabad."

The HBL chairman, while speaking to Geo News, said that it was not just the funds that they provided that must be recognised.

“We identified the consultants, put the team together, made the templates for the work that had to be done, organised training sessions and participated in report content, etc.”

"The army chief, current and previous DG ISIs and current and past DGMO were instrumental in putting in place a plan of action and a team under the DGMO’s office to monitor the progress," he said.

He added that the HBL's role was in identifying global experts and consultants, engaging them and working with them in preparing work templates, designing initial training programmes, and bringing the various stakeholders together.

"Rest was prayers of our elders and well wishers. I must also acknowledge the positive role of the government, especially the former and current prime ministers in Pakistan’s successful exit from the grey list," Allana shared, accrediting the success to teamwork, coordination, focus and determination at all levels for this initiative, which — according to him — sets a benchmark for all endeavours that are or may be aimed for the progress of our beloved country.

Earlier today, Allana was also lauded by former federal minister Ali Haider Zaidi who praised him for his contribution toward making Pakistan’s achievement possible to complete the tough criteria set by the FATF.

Pakistan in FATF's white list

In a major development today, FATF stated that Pakistan has “substantially completed its two action plans” and would be removed from the grey list after it passes the on-site visit stage.

The development was warmly welcomed by all sections of society and those who worked tirelessly to achieve this herculean task were duly praised.