Web Desk(June 26, 2018): Meeting of Financial Action Task Force (FATF) is underway in Paris, in which decision will be taken whether the country should be placed on the blacklist of countries that financially aid terrorism.
During the meeting, Pakistan has presented a strong motive in the meeting of FATF, said sources.
Click Play Button To Watch This Video
Sources are hoping that Pakitan will not be placed n Grey list of FATF now.
Pakistan has assured to submit details of 4 terrorist organization next year.
Alqaida, Taliban, Haqqani Network and Daish are included, said sources.
the decision to place Pakistan on the greylist or not will be taken at the end of the meeting.
The country’s Interim Finance Minister, Shamshad Akhtar is defending along with his delegation.
In February, the country narrowly escaped placement but a senior official of the FATF confirmed that Pakistan will be placed on the watch-list coming June.The delegation, including officials from the Federal Investigation Agency (FIA), State Bank of Pakistan (SBP), finance ministry and the Financial Monitoring Unit (FMU), will inform the anti-money laundering and terror financing watchdog of the action plan drafted to avoid sanctions.
The action plan was reviewed just two days before the filing of comments to the observations raised by the Asia Pacific Group (APG) on money laundering.The APG and the Financial Action Task Force’s (FATF) recommendations to curb money laundering and terror-financing were first discussed in a federal cabinet meeting. The proposed action plan was then reviewed in a meeting chaired by Dr. Akhtar.
The FATF decided, in February, to place Pakistan back on its terror financing watch-list of countries that financially aid terrorism with effect from June but Islamabad believed the decision was politically motivated that may affect its future cooperation.
Despite initially agreeing to Pakistan’s viewpoint, the FATF Plenary decided to place the country on the greylist from June, confirmed a senior government official who had attended FATF meetings in Paris, France. Pakistan was previously on the greylist from 2012 to 2015.The federal government does not see any major impact of the FATF’s decision on its economy and the country’s then-de facto finance minister said that during 2012 to 2015 period, Pakistan signed agreements with the International Monetary Fund (IMF) and issued sovereign bonds in international capital markets.