Pakistan Likely To Be Moved To FATF Blacklist
After a recent review this month, Pakistan has once again been retained on the FATF’s increased monitoring list as it has failed to curb terror financing of UN proscribed terrorists on its soil.
Even Turkey has been placed on the Financial Action Task Force’s ‘grey list’ for failing to check terror financing. Turkey will now give company to its Pakistan, along with over two dozen countries on the FATF grey list. Turkey has been a big supporter of Pakistan.
Now Pakistan has only two supporters in the FATF that is China and Mongolia. To avoid black listing in the next review in March -April 2022, Pakistan must get the support of a third member, should FATF conclude that Pakistan continues with its support to terror financing.
The decision to include Pakistan in the grey list of the Financial Action Task Force (FATF) was taken by consensus of all the members, said FATF President Dr. Marcus Pleyer. Speaking at a press conference, Pleyer also dismissed reports of any possible political connotation regarding the global financial watchdog’s decision.
“FATF is a technical body and we take our decision by consensus, so not only one country that makes the decision, the FATF contains 39 jurisdictions and also the decision on Pakistan was taken by consensus,” Pleyer had said at the Paris based watchdog.
The Imran Khan government surely anticipated the snub from France, the country it has been attacking for banning the wearing of the burqa in public places, according to Islam Khabar.
It has been further debated that a FATF black list will be a more stringent form of punishment for economically wobbly and cash-strapped Pakistan.
The black listing will choke whatever financial aid Pakistan has been receiving from the outside world, including international financial institutions, the report stated.