Pakistan may get off terror funding watchdog’s ‘grey list’ after on-site check

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Pakistan on Friday received a suspension of the Financial Action Task Force (FATF) when the international supervisor announced that the country could be removed from the “gray list” after a visit by the fact-finding team to verify the steps taken to deal with terror financing. Fatf recorded Pakistani’s claims to curb terror funding.

The Hindu previously reported that Islamabad was convinced that the positive results of the current pleno fatf as believed, had “completed” the list of tasks assigned to him by the global body.

According to sources who know the process, Pakistan will officially be expelled from the “gray -gray list” in October. They said the process really began after a meeting between US Secretary Antony Blinken and Pakistani Foreign Minister Bilawal Bhutto at the United Nations in May.

Furthermore, most of the Western and Chinese countries, which are members of the FATF working group, cleaned the Pakistani case at an emergency internal meeting.

Because the decision according to consensus, India was not asked to vote on the decision, but New Delhi was skeptical of Pakistan’s commitment to fully end a safe terror in the country. Officials also pointed to your clock and Kashmir where, they said, infiltration continued and “small arms and Eid” was pushed across Loc. The agency is preparing “increased threats” in the next few months, officials added.

Pakistan continues the effort without stopping towards the success of completing this action plan despite many challenges including Pandemi Covid-19,” Pakistani Foreign Ministry said in a statement after FATF announced a favorable observation of Pakistan’s actions.

Officials told The Hindu that Pakistan received support from the permanent members of the UN Security Council to get out of the “gray -gray list”. Pakistan was brought back to the “gray list” in 2018 which allowed the country to be closely monitored by FATF.

The ministry said, “Pakistan has discussed many foundations in AML/CFT [anti -money laundering and combating the financing of the domain of terrorism and proliferation] during the implementation of the FATF action plan. Involvement with FATF has led to the development of a strong AML/CFT framework in Pakistan and produced an increase in our system to overcome challenges in the future. “

Deputy Minister of Foreign Affairs Pakistan Hina Rabbani Khar who led the country’s delegation to Fatf praised the move.

International supervisors said on Friday that they would make Pakistan in what the “gray list” of countries did not take full steps to fight money laundering and terror financing but increased the hope that the transfer would follow the visit to Islamabad to determine to determine its progress.

Marcus Pleyer, President Fatf, said that the inspection on the spot by the supervisor in Pakistan would take place before October, and that the official announcement about the transfer of Pakistan would follow. He said Fatf praised Islamabad for implementing an organizational action plan – a clear indication that Pakistan moved closer to down from the “Gray -Gray”.

Pakistani political commitment is sustainable to combat terrorist financing and money laundering has led to significant progress,” Fatf said in a statement. The country’s efforts were maintained, he said and added that “the political commitment needed by Pakistan still applies to maintaining the implementation and improvement in the future.”