Success at FATF, Pakistan escaped Blacklist, Likely to be in Whitelist by Feb 2020

The Mint PK

Comprehensive source of Business, Lifestyle and Technology news from Pakistan

Economy

Success at FATF, Pakistan escaped Blacklist, Likely to be in Whitelist by Feb 2020

An 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 declared that Pakistan has taken significant steps to be compliant with FATF recommended actions. A formal report about these developments and progress released on October 18 highlighted that Islamabad has taken some extra initiatives to prevent itself from falling into black-list.

But, Paris-based media has mentioned that despite lobbying from India, the decision to exempt Pakistan from Black List was taken to give extra time of four months to Pakistan to help it implement remaining orders and suggestions. 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 delegation chaired 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 on the steps taken by Pakistan and its developments in different areas. 

FATF meetings talked on damaging financial flows connected to crimes and terrorism and explore the 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 also attended the meeting. Previously India had lobbied 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.

Sadiq Saleem Author
Sadiq Saleem is a professional Web Developer, Researcher and a Digital Marketing Expert with a passion to write for Technology, Career, and Education
×
Sadiq Saleem Author
Sadiq Saleem is a professional Web Developer, Researcher and a Digital Marketing Expert with a passion to write for Technology, Career, and Education
Latest Posts

Comment here