Why Pakistan is not blacklisted in FATF?
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Why Pakistan is not blacklisted in FATF?
“At the previous plenary, FATF countries and the FATF secretariat said that blacklisting was not an option because the country has achieved significant progress,” he said. Azhar claimed that the world was “appreciative” of Pakistan’s effort to complete the 27-point action plan of the FATF.
Does China support Pakistan on FATF?
China with support from Turkey and Malaysia have prevented Pakistan’s blacklisting by FATF during the last two years. Three votes are necessary at the FATF meet to prevent blacklisting.
Is Turkey blacklisted?
In the 39-member FATF, it requires the support of at least three countries to avoid being blacklisted for terror financing and money laundering. Now, Turkey itself is on the grey list bringing Pakistan in the direct line of fire if its state policy on sponsoring terrorism does not change in the coming months.
Can FATF avoid blacklisting Pakistan?
But it will take a miracle for FATF to blacklist Pakistan. This is because for avoiding blacklisting Pakistan needs only three members to support it. There are 39 full members of FATF representing most financial centers around the world including China, Malaysia and Turkey.
Which countries are members of FATF?
There are 39 full members of FATF representing most financial centers around the world including China, Malaysia and Turkey. Turkey and Malaysia are wedded to Pakistan on the Islamic plank and have been fully supporting it.
What progress has Pakistan made in combatting terror and terror financing?
It’s anybody’s guess as to what progress Pakistan has made in combatting terror and terror financing. As things stand now, Pakistan is in the ‘Ongoing Process Statement’, according to the FATF website updated as of October 2019.
What is FATF ‘Black List’?
FATF has been issuing blacklist since 2000 listing countries that FATF judges to be non-cooperative in the global fight against money laundering and terrorist financing, calling them Non-Cooperative Countries or Territories (NCCTs). As of now only Iran and North Korea are on the FATF ‘Black’ list.