FATF retains Pak on Grey List, Turkey new addition

New Delhi: Global terror financing watchdog Financial Action Task Force (FATF) has retained Pakistan on its ‘Grey List’ of countries.

In a briefing, FATF president Marcus Pleyer said that three new countries – Turkey, Jordan, and Mali – have also been added to the Grey List.

“Pakistan government has two concurrent action plans, with a total of 34 action plan items. It has now largely addressed 30 of the items,” said FATF president. This way Pakistan will remain in the increased monitoring ‘Grey List’ of global terror financing watchdog FATF,” Pleyer said.

Pakistan has been battling this stigma by being on the Paris-based FATF’s grey list for deficiencies in its counter-terror financing and anti-money laundering regimes since June 2018.

Pleyer noted that “Pakistan has made significant progress and it has largely addressed 26 out of 27 items on the action plan it first committed to in June 2018.”

He, however, had added that the item on financial terrorism still needed to be addressed which concerned the “investigation and prosecution of senior leaders and commanders of UN-designated terror groups”.

Due to its placing on the Grey List, it has become increasingly difficult for Pakistan to get financial aid from the International Monetary Fund (IMF), World Bank, Asian Development Bank (ADB), and the European Union.

Image courtesy of thesatimes

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