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Despite India’s Lobbying, Pakistan Likely To Escape Being Blacklisted By FATF

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The crucial support of major stakeholders, including China has significantly reduced the chance of Pakistan getting blacklisted by Financial Action Task Force’s (FATF). The key players have appreciated Pakistan’s progress in compliance with FATF’s 27-point recommendations to combat terror financing and money laundering.

FATF’s 6-day long meeting is underway in Paris to discuss the progress made by Pakistan, Iran and other countries.

According to a report of business magazine Profit, Pakistan has succeeded in winning the support of many stakeholders of FATF, despite the strong lobbying of India against Pakistan. The report revealed that FATF will not hold any voting exercise regarding Pakistan’ exit from its grey list, as the period of stay in the list is at least two years.

Furthermore, India Today has reported, that with the help of China, that is a major stakeholder in FATF, ‘Pakistan has a 75 percent chance of exiting the grey list now’.

The financial watchdog and analysts have observed that Pakistan has done a commendable job in combating terror financing in the country. Recently, Anti-Terrorism court convicted Jamaat-ud-Dawa (JuD) Chief Hafiz Saeed, on charges of terrorism and awarded him imprisonment for five and half years.

Moreover, financial institutions have adopted an effective strategy within the country and with foreign countries as well to counter money laundering. State Bank of Pakistan (SBP) has been monitoring financial institutions through audits and maintenance of passengers’ data at the airports in this regard.

In the previous FATF review held in October, it was found that while Pakistan has made significant improvements, it will have to take “extra measures” for “complete” elimination of terror financing and money laundering. As of now, it is very much clear that Pakistan will not be blacklisted, considering the measures the country has taken to counter terror financing and money laundering.


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Naya Daur