After the withdrawal of opposition from the Gulf Cooperation Council (GCC) and China, the Financial Action Task Force (FATF) is going to be included in Pakistan’s “Gray List” after terrorists do not take strict action against funding and money laundering.
It is believed that its formal declaration will be made after Friday. Many sources in New Delhi and Islamabad have said that the FATF passed the US-backed proposal after withdrawing GCC and China protests in the Plantry Meeting in Paris. The proposal was initially opposed by Saudi Arabia, China and Turkey. But, in the end only Turkey supported Pakistan. Apart from the US, the countries which supported it were UK, Germany and France.
FATF had reviewed the steps of Pak
Western countries interact with other countries lobbying and in the last moments they succeeded in their motive. FATF had reviewed the steps taken by Pakistan on the financing of the Jamat Uda claim (JUD) and the Falah-e-Innerity Foundation (FIF). Both of these groups are affiliated to Lashkar-e-Taiba founder Hafiz Saeed, who has been banned by the UN Security Council. Pakistan had great difficulty in avoiding to be in grey list and tried to gain support from the West. He also somehow got support from Russia to avoid joining the Gray List, from which it was taken back three years ago in 2015. What will be the effect After joining Pakistan in Grey List countries, it will be very difficult to do business there as the transaction will be closely monitored by banks and international financial organizations. Pakistan has already been in this list between 2013 and 2015.
