Any decision to list a country as a jurisdiction with strategic AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism) deficiencies is the responsibility of the FATF
Abid Qayyum Suleri, Executive Director, SDPI opined that Pakistan's likely inclusion in the list raised alarms within and outside the country, as this time FATF
just acted on the United States' proposal with the backing of some other countries.
What would be the impact of this drastic measure on the part of FATF
on Pakistan's economy?
Some international media reports had earlier suggested that China this time around refused to bail out Pakistan at the FATF
A key question here is if measures by the FATF
have really resulted in such negative implications for the growth and external account of economies that face tougher demands from the task force.
Growing external debt servicing that keeps depleting SBP reserves and the imminent FATF
action can squeeze room for launching new bonds
Just a day before his departure for France, the adviser had returned from a weeklong visit of Europe where he had gone to convince the FATF
member countries about the actions that Islamabad has taken to remain compliant with global anti-money laundering and counter terrorism financing regime.
But, under FATF
rules, one country's opposition is not enough to prevent a motion from being accepted.
Given that Iran has draft legislation currently before Parliament, the FATF
decided at its meeting in February to continue the suspension of counter-measures.
Evading to talk with reference to FATF
he said we cannot talk on the matter of FATF
In 2008 Pak was blacklisted by FATF
, in 2010 it was put on grey list from black, in 2012 again put on black list, in 2014 it was put to grey from black, in 2015 it was removed from grey and put on white list," his tweetread.
Pakistan will cooperate with FATF
in every possible way, Dr Faisal maintained, as FATF
has asked Pakistan to take additional steps to curtail money laundering and terror financing.