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Pakistan gets 3-month reprieve from FATF on terror list: Khawaja Asif

Member states of the Financial Action Task Force (FATF) have been meeting this week in Paris

Press Trust of India  |  Islamabad 

Khawaja Asif
Pak foreign minister Khawaja Asif (Photo:

has been given a three-month by the global watchdog FATF over a US-sponsored motion to put it on a terrorist financing watch-list, has claimed.

"Our efforts paid, FATF 20 February meeting conclusion on US-led motion to put on watch-list. No consensus for nominating Proposing three months pause and asking APG (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 (FATF) have been meeting this week in Paris, where it was expected that they would decide on a US motion -- backed by the UK, and -- to have added to the 'grey list' of countries not doing enough to comply with terrorist-funding regulations, Dawn reported.

has sent to on Finance Dr to attend the (FATF) meeting at a time when the activities of Hafiz Saeed's (JuD) and the (FIF) have created problems for the government, said.

The US and the UK had moved the motion to place on the FATF terrorist-financing watch-list. and are co-sponsoring 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, and other partners.

If the FATF adopts the resolution, could once again be placed on the grey list of countries with deficient anti-money laundering regimes.

suspects India's hand behind the US-sponsored resolution as Ismail recently lamented that the FATA was used for political purposes, the report said.

According to the financial sector experts, any move to place on the watch-list would enhance scrutiny level of the financial transactions that the country's banking sector would undertake with the rest of the world.

This will increase the cost of opening letter of credits (LC) for trade purposes. The negative decision by the FATF will have the force to affect the credit ratings, which will in turn increase cost of borrowings for the government.

At present, the 11 jurisdictions are on the high risk and monitoring list of the FATF, which include North Korea, Iran, Iraq, Syria, and was on the FATF grey list from 2009 to 2015.

First Published: Wed, February 21 2018. 17:21 IST