Hafiz Saeed and his two aides - Zafar Iqbal and Yahya Mujahid - have been sentenced to 10-and-a-half years each, while his brother-in-law Abdul Rehman Makki has been sentenced to six-month imprisonment.
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.
Without naming Pakistan, the FATF said in a statement that terrorists use various methods to gain financing, including using social media to identify new followers and to solicit financial or other forms of material support.
The Lahore anti-terrorism court has sentenced the man to imprisonment for five-and-a-half years and a fine of Rs 15,000 in each of the two cases.
“We have seen media reports that a court in Pakistan has sentenced UN-designated and internationally proscribed terrorist Hafiz Saeed in terror financing case. It is part of a long-pending international obligation of Pakistan to put an end to support for terrorism,” sources in the government said.
In July, Mumbai terror attack mastermind Hafiz Saeed was arrested by the CTD of Pakistan’s Punjab Province and has been on judicial remand ever since.
Next week's Financial Action Task Force (FATF) meeting will review progress made on controlling terror financing and money laundering.
According to UN provisions, all countries are required to freeze the funds and other financial assets or economic resources of designated terrorists. The resolution also provides for states to sanction basic expenses of the designated individuals if there is no-objection over it.
The long-awaited 228-page report was published on Saturday, a week before the FATF is set to announce its decision to remove or retain Pakistan in its grey list.
The NIA had earlier on Friday named Jammu and Kashmir Liberation Front (JKLF) chief Yasin Malik and four others in its second chargesheet in connection with a terror funding case.
