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FATF Satisfied With Pakistan’s Progress In Curbing Terror Financing

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The international watchdog Financial Action Task Force (FATF) today, has expressed satisfaction over Pakistan’s briefing on country’s progress on implementation of 27-point recommendations to combat money laundering and terror financing.

According to Diplomatic News Agency, FATF, in its recent meeting has given more time to Pakistan, probably till October, to improve its mechanism and fully implement the recommendations to exit from grey list.

The FATF members have lauded Islamabad over the steps that have been taken so far. It has observed that Pakistan adopted an effective strategy in the financial sector to curb terror financing and enhanced cooperation with foreign countries to counter money laundering.

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.

In the previous FATF review held in October last year, 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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