Last Updated on: 24th July 2023, 02:49 am
FATF Declares To Keep Pakistan Remain On Grey List Till February
The FATF meeting in Paris on Tuesday analyzed the steps that Islamabad has taken in the past to supervise the funding of terrorism and money laundering. Although, the meeting noticed that Islamabad will have to take further measures in the coming four months.
The FATF has connected the blacklisting of Pakistan with dissatisfying steps to restrain funding of terrorism and money laundering.
The FATF will declare an official decision in February 2020. A formal report about these developments and progress will be released on October 18 this year.
Islamabad encouraged to take some extra initiatives to prevent casting them into the blacklist.
FATF President Xiangmin Liu opened the FATF Plenary meeting. The key outcomes of the next 3 days of meetings on global action against #moneylaundering & #terroristfinancing, and decisions on Pakistan, Iran and other countries to be announced on Friday 👉 https://t.co/tyy0F0VnYC pic.twitter.com/jCEWSvgsm1
— FATF (@FATFNews) October 16, 2019
But, Paris-based correspondent of Aaj TV Younus Khan affirmed that the FATF has made a decision to provide an extra time of four months to Pakistan to help her implement remaining orders and suggestions.
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Mr. Khan said that my sources have affirmed to me about these developments and progress. He further added that a formal report in this regard will be released on Friday, the last day of the latest FATF session.
A Pakistani delegacy administers by Minister for Economic Affairs Hammad Azhar informed the meeting that Islamabad has created positive developments in 20 out of 27 points.
The FATF conveyed satisfaction with the steps taken by Pakistan and its developments in different areas. I could not be approached to get official feedback in spite of attempts, Mr. Azhar said.
Six days of FATF meetings will talk about damaging financial flows connected to crimes and terrorism and explore ways to serve global safety and security.
Turkey, Malaysia, and China encouraged the measures taken by Pakistan.
In the meantime, delegates from 205 countries and jurisdictions around the world, the IMF, UN, World Bank, and other organizations are also attending the meeting.
At the Tuesday meeting, India has encouraged FATF to blacklist Pakistan on the appeal that Islamabad has permitted Hafiz Saeed to withdraw funds from his frozen accounts. Some issues were also taken into account on the tax amnesty scheme provided in Pakistan.
The FATF decided not to include Pakistan on the blacklist and give it additional time to implement the remaining steps on the entire support extended by Turkey, China, and Malaysia.
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