WASHINGTON: Pakistan was officially placed on a terrorism financing watchdog’s grey list on Wednesday, failing the country’s efforts to avoid the designation, diplomatic sources claimed.

The report could not be confirmed independently and the FATF did not make an official announcement till late in night.

The sources said that the Financial Action Task Force (FATF) took this decision during a plenary meeting in Paris, arguing that Pakistan had failed to act against terror financing on its soil.

Earlier in the day, caretaker Finance Minister Dr Shamshad Akhtar urged the FATF to remove Pakistan from its grey list.

FATF is a global body that combats terrorist financing and money laundering. The decision to place Pakistan on the global money-laundering watchdog’s grey list was made during its plenary meeting in February this year.

As the FATF plenary began its proceedings on Wednesday, the Pakistani delegation apprised the watchdog of steps Islamabad had taken to stem money laundering and terror financing.

Earlier reports from Paris had indicated that Pakistan may get more time to take measures to implement the FATF’s anti-money laundering and terrorist financing regulations.

Published in Dawn, June 28th, 2018

Opinion

Editorial

UNGA speech
25 Sep, 2022

UNGA speech

CRISES test a nation’s resilience but also provide opportunities to rise and move forward. Prime Minister Shehbaz...
Dar’s return
Updated 25 Sep, 2022

Dar’s return

Dar will now be expected by his party to conjure up fiscal space for the govt to start spending ahead of the next elections.
Iran hijab protests
25 Sep, 2022

Iran hijab protests

FOR over a week now, Iran has been witnessing considerable tumult after a young woman died earlier this month in the...
Post-flood economy
Updated 24 Sep, 2022

Post-flood economy

WITH a third of the country — especially Sindh and Balochistan — under water, over 33m people displaced, and...
Panadol shortage
24 Sep, 2022

Panadol shortage

FROM headaches to fever to bodily pain — paracetamol is used ubiquitously in Pakistan as the go-to remedy for most...
Star-struck cops
24 Sep, 2022

Star-struck cops

IN this age of selfies and social media, it is easy to get carried away in the presence of famous people, even if ...