FATF REPRIEVE FOR PAK FOR THREE MONTHS

Watchdog FATF gives 3 months reprieve, claims minister

Islamabad, Feb. 21: Pakistan on Wednesday claimed that it had foiled US-led efforts to place it on a terrorist financing watch-list after the country was granted a threemonth reprieve by the Paris-based international watchdog FATF.

The Financial Action Task Force (FATF), a global body that combats terrorist financing and money laundering, met in Paris amidst reports that the US with support of some European allies was trying to place Pakistan on a list of countries that financially support terrorism.

Pakistan’s foreign minister Khawaja Asif said on Wednesday that “our efforts paid” and “no consensus for nominating Pakistan” for the watchlist was reached at the conclusion of meeting on the US-led motion.

Islamabad, Feb. 21: Pakistan has been given a three-month reprieve by the global watchdog FATF over a US-sponsored motion to put it on a terrorist financing watch-list, foreign minister Khawaja Asif has claimed.

“Our efforts paid, FATF February 20 meeting in Paris concluded on US-led motion to put Pakistan on watch-list. There was no consensus for nominating Pakistan. Proposing three months pause and asking APG (Asia/Pacific Group on Money Laundering) for another report to be considered in June. Grateful to friends who helped,” Asif said in a tweet.

Member states of the Financial Action Task Force (FATF) have been meeting this week in Paris, where it was expected that they would decide on a US motion — backed by the UK, France and Germany — to have Pakistan added to the ‘grey list’ of countries not doing enough to comply with terrorist-funding regulations, Dawn reported.

Pakistan has sent adviser to Prime Minister on finance Dr Miftah Ismail to attend the Financial Action Task Force (FATF) meeting at a time when the activities of Hafiz Saeed’s Jamaat-ud-Dawa (JuD) and the Falah-e-Insaniyat Foundation (FIF) have created problems for the Pakistan government, media reports said.

The US and the UK had moved the motion with France and Germany cosponsoring the move, the report said.

The meetings involve more than 700 delegates from the 203 jurisdictions of the FATF Global Network, as well as the UN, IMF, World Bank and other partners. If the FATF adopts the resolution, Pakistan could once again be placed on the grey list of countries with deficient anti-money laundering regimes.