Pakistan in FATF Gray List: Shock to Imran Khan’s campaign, FATF did not remove from gray list, Shock to Imran Khan’s campaign, FATF did not remove from gray list
FATF not removed from gray list, shock to Imran Khan’s campaign
- Pakistan is currently in the gray list, a setback to the Imran government’s exit attempt
- Terrorists and their organizations are monitored for financial transactions
- Pakistan has been in the gray list since June 2018
The words and deeds of Pakistan against terrorism are not hidden from anyone. On the one hand, he talks a lot about running a campaign against terrorism. But the ground reality is different. After India’s continuous efforts, it has been put in the gray list by FATF. Pakistan expected relief for itself from the FATF meeting on Friday. But its gray list status remains intact.
What the FATF has to say
Financial Action Task Force (FATF President Marcus Player) said that a major action item that still needs to be completed is the investigation and prosecution of senior leaders and commanders of terrorist groups designated by the United Nations. Pakistan is under constant surveillance It has extensively addressed 26 of the 27 items on the Action Plan.
what is gray list
The FATF is concerned with strengthening the mechanisms governing the country’s financial system so that they cannot be used for activities such as money laundering and terrorist financing. The so-called ‘Grey List’ actually includes countries that the FATF thinks should be under “increased surveillance”, even though they work with the FATF to “combat money laundering, terrorist financing and proliferation financing under their regime”. The gray list can be seen as a warning note for any country, but such a designation also means that “it has been identified within the agreed time frame”. Committed to swiftly resolving strategic deficiencies”.
Why is Pakistan in the gray list?
The gray list is updated periodically and since the last FATF meeting in February this year, the 19 countries included are Myanmar, Mauritius, Cambodia, Panama, Barbados, Cayman Islands, Syria. Pakistan has been on this list since June 2018. Some of these countries are known as tax havens while others have had trouble with terrorism. In all cases, they are on the ‘grey list’ because it is believed that their financial structures are likely to be exploited for restricted transactions. As far as the actual impact is concerned, being on the gray list would prevent money in foreign markets. Or raising debt may be more difficult, while foreign investment flows into these countries may also be affected. The perception about such a country among the international community is also suffering.
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