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Financial Action Task Force puts Pakistan in the 'grey list' during its meeting in Paris. All member countries supported the motion except Turkey
LATEST UPDATE!!
Pakistan Put on Terror Financing Watchlist by Task Force
The motion, brought forth by the United States, was supported by countries like UK, France, and India. The FATF voted 36 to 1 to grey list Pakistan.
Zakka Jacob | CNN-News18
Updated:February 23, 2018, 12:22 PM IST
Image for representation. (Reuters)
New Delhi: The Financial Action Task Force (FATF) in its latest meeting in Paris has decided to put Pakistan on a “grey list” for not taking adequate action against proscribed terrorist entities and individuals.
The motion, brought forth by the United States, was supported by countries like UK, France, and India. The FATF voted 36 to 1 to grey list Pakistan.
The only country that voted in favour of Pakistan was Turkey. Not even traditional friends and allies like China and Turkey voted in favour of Pakistan.
This will make it difficult for international financial institutions and banks to do business in Pakistan. Conversely, it will also make it difficult for Pakistani businesses to raise money overseas.
Pakistan will also find it hard to service its debt obligations. Pakistan has about 300 billion dollars of sovereign debt which it needs to service by the end of June, failing which it could be in for a sovereign ratings downgrade by international rating agencies like S& P Moody’s and Fitch.
Domestically, opposition parties the Pakistan Tehreek-e-Insaf (PTI) and Pakistan Peoples Party (PPP) are expected to use this development to attack the ruling PML(N)and its failure to convince the international body. It could also have a negative effect on the PML (N) in the upcoming general elections.
There was a report on Friday that China, Saudi Arabia and Turkey, three close allies of Pakistan, have joined hands to block a move by the Trump administration to place Islamabad on an international terror-financing watch list.
While Pakistan has claimed a victory of sorts, the US was working behind the scenes during the ongoing Paris meeting of the Financial Action Task Force (FATF) to take action against the country which it believes has not acted against terrorist financing and the implementation of the UN Security Council resolutions.
http://www.news18.com/news/world/pa...inancing-watchlist-by-task-force-1669931.html
<blockquote class="twitter-video" data-lang="en"><p lang="en" dir="ltr">Financial Action Task Force puts Pakistan in the 'grey list' during its meeting in Paris. All member countries supported the motion except Turkey | <a href="https://twitter.com/Zakka_Jacob?ref_src=twsrc^tfw">@Zakka_Jacob</a> with more details <br><br>Input: <a href="https://twitter.com/manojkumargupta?ref_src=twsrc^tfw">@manojkumargupta</a> <a href="https://t.co/tcvi6IKVFc">pic.twitter.com/tcvi6IKVFc</a></p>— News18 (@CNNnews18) <a href=" ">February 23, 2018</a></blockquote>
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Massive Global Embarrassment Complete; Financial Action Task Force (FATF) To Put Pakistan On Grey List For Terror Financing
Team Republic | 23-02-2018 10:39 am
Khawaja M. Asif
✔@KhawajaMAsif
Our efforts paid,FATF Paris 20Feb meeting conclusion on US led motion to put Pakistan on watch list
-No consensus for nominating Pakistan
-proposing 3months pause &asking APG for another report to b considered in June الحمداللہ
Grateful to friends who helped
12:54 AM - Feb 21, 2018
Twitter Ads info and privacy
Shortly before the meeting in Paris, Pakistan, which was to provide a report on its crackdown on terrorism, had attempted to take desperate last-minute action against 26/11 mastermind Hafiz Saeed's JuD and FIF organisations.
Here's what Indian government sources said to Republic TV about the development:
"We welcome this move by FATF to put Pakistan in the terror financing global list. This has happened on expected lines and comes as a huge embarrassment to Pakistan.
FATF move vindicates India’s stand that Pakistan has been aiding, abetting and financing terrorism against India. The global community needs to realise that Pakistan has been sponsoring terror against its neighbours and using it as a state policy. Global diplomatic steps like these to crush terror important in the war against terror."
The US' move to put Pakistan on the FATF watchlist was foreshadowed by a number of actions by the Trump administration. On the first day of 2018, the US president had launched a scathing and stunning Twitter attack on Pakistan, calling it out for its "lies and deceit" with regards to clamping down on terror and calling an end to military aid to the country. Accordingly, the US administration suspended aid worth about $2 billion to Pakistan. Then, on January 24, the US launched a massive drone strike on Pakistani soil near the border with Afghanistan targeting leaders of the Haqqani network. Another drone strike followed on February 8.
http://www.republicworld.com/world-...ut-pakistan-on-grey-list-for-terror-financing
What a major embarrassment for Pakistan and Khwaja Asif if this news is confirmed later in the day. And if China has not supported Pakistan then thats a huge double whammy!
The motion, brought forth by the United States, was supported by countries like UK, France, and India. The FATF voted 36 to 1 to grey list Pakistan.
Zakka Jacob | CNN-News18
Updated:February 23, 2018, 12:22 PM IST
Image for representation. (Reuters)
New Delhi: The Financial Action Task Force (FATF) in its latest meeting in Paris has decided to put Pakistan on a “grey list” for not taking adequate action against proscribed terrorist entities and individuals.
The motion, brought forth by the United States, was supported by countries like UK, France, and India. The FATF voted 36 to 1 to grey list Pakistan.
The only country that voted in favour of Pakistan was Turkey. Not even traditional friends and allies like China and Turkey voted in favour of Pakistan.
This will make it difficult for international financial institutions and banks to do business in Pakistan. Conversely, it will also make it difficult for Pakistani businesses to raise money overseas.
Pakistan will also find it hard to service its debt obligations. Pakistan has about 300 billion dollars of sovereign debt which it needs to service by the end of June, failing which it could be in for a sovereign ratings downgrade by international rating agencies like S& P Moody’s and Fitch.
Domestically, opposition parties the Pakistan Tehreek-e-Insaf (PTI) and Pakistan Peoples Party (PPP) are expected to use this development to attack the ruling PML(N)and its failure to convince the international body. It could also have a negative effect on the PML (N) in the upcoming general elections.
There was a report on Friday that China, Saudi Arabia and Turkey, three close allies of Pakistan, have joined hands to block a move by the Trump administration to place Islamabad on an international terror-financing watch list.
While Pakistan has claimed a victory of sorts, the US was working behind the scenes during the ongoing Paris meeting of the Financial Action Task Force (FATF) to take action against the country which it believes has not acted against terrorist financing and the implementation of the UN Security Council resolutions.
http://www.news18.com/news/world/pa...inancing-watchlist-by-task-force-1669931.html
Pre-mature celebrations comes to an end.
Why China backstabbed ?
http://www.thehindu.com/news/intern...list-for-terror-financing/article22833899.ece
Pakistan not placed on Grey List yet: FATF
In a statement Financial Action Task Force (FATF) spokesperson Alexander Daniela has denied that Pakistan had been included in the grey-list.While speaking to a private media channel Daniela that the final decision will come once the matter has been reviewed, currently the meeting is underway.
How India had the information prior to conclusion of Meeting?
