Terror taper
Islamabad is buzzing with the impending news of Pakistan’s likely removal from the “grey list” of the Financial Action Task Force (FATF), the global body which combats terror financing.
Islamabad is buzzing with the impending news of Pakistan’s likely removal from the “grey list” of the Financial Action Task Force (FATF), the global body which combats terror financing.
The FATF in October last decided to keep Pakistan on its 'Grey' list for failure to curb funnelling of funds to terror groups Lashkar-e-Taiba, Jaish-e-Mohammed and others.
The plenary session of FATF will be held in Paris on Friday.
The anti-terror financing body had, in October last, warned Pakistan of strong action if it fails to take measures on terror financing and money laundering by February 2020.
The news comes after Pakistan Prime Minister Imran Khan met United States President Donald Trump in Davos this week
The global watchdog for terror financing and money laundering had on Friday warned Pakistan of blacklisting it if it fails to take complete measures on terror financing and money laundering by February 2020.
The FATF stated that in an otherwise situation, it would take action including urging members to advise their financial institutions to give special attention to business relations/transactions with Islamabad.
Bankers in Pakistan believe further degradation by FATF could put the country's economy under serious threat.
FATF has asked Pakistan to take steps to curb terror financing and money laundering after India’s relentless campaign against its intransigent neighbour in the wake of the Pulwama attack.
The highly-anticipated decision came on Friday night at the concluding session of the week-long plenary of the anti-terror finance watchdog in Paris
