World Desk, AnyTV, Islamabad
Published by: Harendra Chaudhary
Updated Mon, 07 Mar 2022 04:08 PM IST
Summary
The FATF had put Pakistan in the gray list in 2018. Because of that foreign companies became more cautious about investing in Pakistan. The FATF primarily oversees money laundering and terrorist financing activities.
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Pakistan is unable to find a way out of the clutches of the Financial Action Task Force (FATF). FATF has put Pakistan in its gray list for the last four years. This means that the suspicion of this international agency set up to curb terrorist activities remains that Pakistan patronizes terrorism. If these doubts deepen further, if FATF puts Pakistan from gray to blacklist, then it will automatically be subject to international sanctions.
leave two important points
The FATF had put Pakistan in the gray list in 2018. Because of that foreign companies became more cautious about investing in Pakistan. The FATF primarily oversees money laundering and terrorist financing activities. In this meeting, it was a matter of relief for Pakistan that the FATF appreciated the steps taken by it in the matter of combating financial crimes. The FATF described these steps as concrete progress.
Claims to have resolved 26 out of 27 issues
After being put on the gray list of FATF, Pakistan had promised to address the concerns of this agency. Since then it has been trying to find solutions to the issues pointed out by the FTAA. But the latest meeting of the FATF made it clear that in the long period of four years, Pakistan has not been able to address all the concerns of this agency. Experts say that the government of Pakistan may pat its back on progress on some points, but the international community remains suspicious of it. At the same time, the danger of slipping from gray to black list is also constantly looming.
Recently, the International Monetary Fund (IMF) had also asked Pakistan to address all the points of concern pointed out by the FATF at the earliest. Pakistan has recently taken a loan from the IMF to deal with the economic crisis.
Expansion
Pakistan is unable to find a way out of the clutches of the Financial Action Task Force (FATF). FATF has put Pakistan in its gray list for the last four years. This means that the suspicion of this international agency set up to curb terrorist activities remains that Pakistan patronizes terrorism. If these doubts deepen further, if FATF puts Pakistan from gray to blacklist, then it will automatically be subject to international sanctions.
leave two important points
The FATF had put Pakistan in the gray list in 2018. Because of that foreign companies became more cautious about investing in Pakistan. The FATF primarily oversees money laundering and terrorist financing activities. In this meeting, it was a matter of relief for Pakistan that the FATF appreciated the steps taken by it in the matter of combating financial crimes. The FATF described these steps as concrete progress.
Claims to have resolved 26 out of 27 issues
After being put on the gray list of FATF, Pakistan had promised to address the concerns of this agency. Since then it has been trying to find solutions to the issues pointed out by the FTAA. But the latest meeting of the FATF made it clear that in the long period of four years, Pakistan has not been able to address all the concerns of this agency. Experts say that the government of Pakistan may pat its back on progress on some points, but the international community remains suspicious of it. At the same time, the danger of slipping from gray to black list is also constantly looming.
Recently, the International Monetary Fund (IMF) had also asked Pakistan to address all the points of concern pointed out by the FATF at the earliest. Pakistan has recently taken a loan from the IMF to deal with the economic crisis.