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FATF Placed Pakistan On Grey List for Financially Helping Terrorism Details, Reason
FATF Placed Pakistan On Grey List for Financially Helping Terrorism Details, Reason, Background
The Financial Action Task Force (FATF) on 27th June 2018, added Pakistan to its ‘Grey List’ of countries involved in providing monetary assistance to terrorism and related causes.
At the FATF talks in Paris, a delegation led by Dr. Shamshad Akhtar, Pakistani Interim Minister for Finance and Planning, apprised the FATF of steps taken by Pakistan to curb terror financing and money laundering, pleading removal of Pakistan's name from FATF Grey list.
Pakistan had earlier also been included in the ‘Grey list’ from 2012 to 2015.
Background
FATF had earlier taken the decision to place Pakistan on its grey list during a plenary meeting in February 2018.
At that time of the plenary meeting, China, Turkey and Saudi Arabia, leading the six-nation Gulf Cooperation Council (GCC) that votes as one bloc, were against Pakistan being put in the grey list.
The grey list puts countries under the scanner for not implementing the objectives of the task force.
As per FATF rules, three votes from the FATF's members are needed for not putting a country in the grey list.
