Efforts of Allied countries to remove Pakistan from FATF gray list

ISLAMABAD, June 15 ( Alliance News): China and other allies are quietly working to get Pakistan off the Financial Action Task Force (FATF) gray list.

According to the diplomatic sources while talking to Alliance News Correspondent.

The FATF, a global body that monitors money laundering and terrorist financing, is holding a four-day meeting in Berlin, Germany, from June 14 to 17.

FATF delegations will represent the 206 members of this global network from around the world, while its observers will also attend the meeting, which includes the International Monetary Fund (IMF), the United Nations, the World Bank and the Agreement Group of Includes financial intelligence units.

Recent international media reports also cited this “silent lobbying” led by China, while an Indian media outlet also reported that the FATF was likely to include Pakistan in its gray list of countries on its plan meeting. Decide to remove from the list.

Diplomatic sources from Washington have said that the allied countries that are part of this lobbying are of the view that in order to revive the Pakistani economy, it is necessary to remove it from the FATF gray list. Included in the gray list.

Sources said that the decision of the Lahore Anti-Terrorism Court on April 9 could also help Pakistan to get out of the gray list as the anti-terrorism court had acquitted Hafiz Saeed, head of the banned Lashkar-e-Taiba, on terrorism charges. He was sentenced to one year in prison.

Countries that have been supporting the removal of Pakistan from the gray list have pointed out that Hafiz Saeed has been sentenced because of two cases registered by Pakistan’s anti-terrorism department.

Earlier, at its meeting in Paris in March, the FATF had pointed out that Pakistan had completed 26 of the 27 in its 2018 action plan.

The FATF urged Pakistan to focus as soon as possible on another issue, namely the investigation into terrorist financing and the targeting of senior leaders and commanders of UN-designated terrorist groups.

The FATF also appreciated in the last meeting that Pakistan has implemented six of the seven action plans that were asked to be implemented in June 2021 to eradicate money laundering.

The Foreign Ministry has prepared a presentation to attend the FATF meeting on how Pakistan has completed all the 27 action plans, with Minister of State for External Affairs Hina Rabbani Khar likely to attend the meeting. Is.

On May 22 and 23, Commerce Minister Syed Naveed Qamar visited Brussels, where he briefed several members of the European Parliament and the European Commission on Pakistan’s efforts to get out of the gray list.

The FATF will finalize key issues at its four-day meeting, including a report on curbing money laundering through the real estate sector.

Another report will urge financial institutions to use mutual analysis, data collection and other support measures to address issues such as money laundering and terrorist financing.

The FATF delegation will also discuss assessments of measures taken to combat money laundering and terrorist financing, which have been identified as a threat to the financial system.



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