ISLAMABAD Feb 24 (TNS): As confusion continues about being placed on the Financial Action Task Force’s grey list, Pakistani officials claimed that the country has escaped the US-sponsored move to declare it a terror-financing country.
The international media claimed that the FATF meeting in Paris has put Pakistan on the grey list of countries with strategic deficiencies to tackle terror-financing and money-laundering. The confusion persists despite vague explanations from Pakistani officials that the country has been reprieved from the grey list till June. The United States persuaded China and Saudi Arabia to end their opposition to its sponsored-bill to put it on the watch list that could have serious economic repercussions for the country.
The list features nine countries — Ethiopia, Yemen, Iraq, Syria, Serbia, Sri Lanka, Trinidad and Tabago, Vanuatu and Tunisia — while Bosnia and Herzegovina has been moved to the white list.
The absence of Pakistan’s name from the list of “jurisdictions with strategic anti-money laundering/countering the financing of terrorism deficiencies for which they have developed an action plan with the FATF”, posted on the official website of the watchdog following the plenary session, indicates that Pakistan has apparently survived the attempt to put it on the watch list that could have had serious economic repercussions for the country.
Officials confirmed to the TNS that the sword still hangs on Pakistan’s head as China and Saudi Arabia backpedalled from opposing the US bill during the calling for a second vote while Turkey indicated its support to Pakistan. After Turkey’s support, Interior Minister Ahsan Iqbal took to the Twitter and said: “Thank you Turkey for standing with Pakistan against all odds and proving that we are one. We are proud to have a brother like you.”
Thank you Turkey for standing with Pakistan against all odds & proving that we are one. We are proud to have a brother like you.
— Ahsan Iqbal (@betterpakistan) February 23, 2018
In the earlier discussion held on Tuesday on the motion, China, Turkey and Saudi Arabia opposed the bill taking the stance that the country has suffered at the hands of terrorism in the last over 15 years.
Meanwhile, the government remained silent on the matter following reports in the international media that Pakistan had been grey listed. Foreign Minister Khawaja Asif claimed on the Twitter that the country had earned a three-month reprieve.
But the statement released by FATF following the plenary meetings later in the evening made no mention of Pakistan, fuelling the confusion and talk that these stories were all wrong.
Pakistan is now set to be ‘grey listed’ in June, and by that definition, its financial system will be designated as posing a risk to the international financial system because of “strategic deficiencies” in its ability to prevent terror financing and money laundering. Pakistan will work with FATF to build an “action plan” to plug the deficiencies identified by the watchdog, which will be put up for approval by consensus in the June session and if no consensus takes palce on the action plan, Pakistan could be black listed by FATF, a status currently applied only to Iran and North Korea.
The US has been accusing Pakistan of not taking action against entities and individuals including the Jamaat-ud-Dawa and Falah-i-Insaniyat Foundation led by Hafiz Saeed declared terrorists by the UN Security Council. Pakistan
Pakistan has taken a number of initiatives to take strict action against organizations facing sanctions under the United Nations Security Council.
On February 9, the federal government promulgated an ordinance amending the Anti-Terrorism Act, 1997 in a bid to proscribe those individuals and organizations listed by the UNSC. The federal cabinet has already accorded approval to Anti-Terrorism (Freezing and Seizure) Rules, 2018, allowing seizure and freezing of assets and blocking of bank accounts of terrorist individuals and organizations.
TNS/REUTERS
