April 5, 2020 | 6:42 PM IST
terror funding

FATA: Pak may continue to be in ‘Grey List’, final decision on 21st Feb

In a major setback for Pakistan, the sub-group of global terror financing watchdog the Financial Action Task Force (FATF), on Tuesday recommended continuation of the country in the ‘Grey List’ for failing to check terror funding. The recommendation meeting was held at the FATF's International Co-operation Review Group (ICRG) in Paris in which the officials evaluated whether Pakistan had taken sufficient steps to fight terrorism as it was directed to do in the October meeting held in China.

In the meeting, Pakistan submitted a detailed reply to FATF claiming how it successfully implemented 14 of the 27 and partly started work on 11 more action points laid down by FATF. The 27 action points were related to anti-money laundering and counter-terrorist financing actions.
Though Pakistan’s submission was supported by Turkey and Malaysia, the officials were dissatisfied as the submission did not have any mention of the mafia don Dawood Ibrahim Kaskar who is a designated global terrorist and has links with al Qaeda. 
The FATF had placed Pakistan on the grey list in a review meeting held in Beijing, China in October 2018 and it was granted an extension till February 2020.  FATF will take the final decision on February 21.

The meeting was attended by over 800 representatives from 205 countries and jurisdictions around the world including the International Monetary Fund (IMF), United Nations (UN), World Bank, and other organisations.
In case Pakistan is black-listed, it would be not be backed by the international banking system and stricter checks and safeguards would be imposed on it.

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