Pakistan expected to stay on FATF grey list for 6 more months

[StormBreaker]

DUBAI: Pakistan may stay on the ‘Grey List’ of the Financial Action Task Force (FATF) next month despite active support of its close ally China and tactical support of some Western countries, foreign media quoting diplomatic sources said.

The FATF is expected to extend the duration of the ‘Grey List’ for another six months to ensure that Pakistan gets enough time to adopt legislative measures to restructure its banking system according to the best international practices for curbing money-laundering and terror financing.

However, Foreign Minister Shah Mehmood Qureshi is confident of joining the ‘White List’ of FATF in February, but experts and diplomatic sources said Pakistan will be given enough time to achieve 100 percent compliance on terror financing and money-laundering.

“The country should, in principle, be taken off the Grey List’ as it has made considerable progress on the requirements of the FATF,” Qureshi said.


On the other hand, Minister for Economic Affairs Hammad Azhar, who led a Pakistani delegation during three-day talks with the Financial Action Task Force (FATF) in Beijing, said on Saturday the government has worked “very hard” to get the country off the watchdog’s grey list.

Taking to Twitter, he said: “It is premature to comment/ speculate on the decision that FATF members shall take in the plenary in Feb.”

https://twitter.com/x/status/1221003311085686784

“Pak Authorities have worked very hard over the months & I feel we have made significant progress in our AML/CFT efforts. We remain committed to sustaining this momentum.”

The minister expressed the optimism that that attempts by “certain quarters to politicise the FATF proceedings would be rejected.”

At a FATF meeting held in Beijing last week, Pakistan submitted its compliance report and got support from the FATF current chair China and satisfied a few Western countries about its recent action taken for FATF compliance.

However, it is still a difficult task to secure 12 more votes out of 39 to exit the ‘Grey List’ and move to the ‘White List’, the sources said. In recent meetings of FATF, Pakistan has got support of Malaysia and Turkey besides China.

A FATF plenary slated for Feb 17 will evaluate implementation on a 27-point action plan, the sources said. They added the watchdog’s mutual evaluation meeting will take place in August.

Pakistan had sent a 650-page review report to the FATF on January 8, 2020 in response to 150 questions raised by the FATF.

Source : Profit

 

[Pakistani Fighter]

However, it is still a difficult task to secure 12 more votes out of 39 to exit the ‘Grey List’ and move to the ‘White List’, the sources said

Haven't US given assurance?

 

[pakpride00090]

Pakistanis will never learn. If we didn't get out of FATF next month then this will be the same saga that we faced after we paid for those f-16s and never got it.

Payment should should be sent later after getting the products. Delivered Afghan peace but got nothing in return.
No FATF , No f-16s , No Zulus , No CSF , No sanctions on India , no nothing.

 

[Path-Finder]

NO this needs to made clear and needs to be put across in bold, if they want cooperation in afghanistan then out of grey list.

now my post was deleted when I said why isnt that harami from sialkot that khaja hanged and it was deleted! So i will ask again those who made sure Pakistan went on grey list is still barking and loitering in Pakistan!!

 

[313ghazi]

Don't believe anything you read until the decision is announced at the meeting. Misinformation and propaganda is everywhere. The news of being white listed may have been spread by multiple people for multiple reasons;

• GoP could be trying to influence the decision by spreading rumours in its favour
• GoP could be trying to attract investment by helping fan the flames of a rumour
• People with anti govt agenda could be spreading the rumour to build up expectation to then, spread despondence when it turns out to be false, creating negativity in the public and market confidence.
  
• People with anti Pakistan agenda could be spreading the rumour to try and swing the decision the other way, ie paint Pakistan as over-confident or cocky.

Misinformation is everywhere, we hear infintely more lies than we hear truths. Relax, temper expectations.

 

[IceCold]

If this does not happen than why did we not attend the Malaysian summit? Why are we handing over Afghanistan peace mission to Trump? Our stance should had been clear from day 1 if you do not support us is getting us out, we will not help you in Afghan peace process. Period!

 

[Riz]

Haven't US given assurance?

Who told u??

 

[blueazure]

the FATF blackmail continues ..................

 

[Hallian_Khan]

IK gave a hint when he met youtubers, few days back if i am not wrong reagarding fatf

 

[HAIDER]

Sorry to say, Pakistan banking system is soooooooooooooooo F up. It require huge overhaul . PTI is doing its best, but something always comes up during stress test. South Asia banking system is also so F up , but few countries have international pardon ...