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

PDM’s lack of strategy
08 Dec 2021

PDM’s lack of strategy

Ever since the PDM’s whimpering end to its first campaign, it has hardly given any reason for the govt to have sleepless nights.
08 Dec 2021

Undertrials’ escape

IN any country with respect for the law an incident such as Monday’s escape of undertrials from a lock-up in ...
08 Dec 2021

Suu Kyi’s sentence

THE military junta that holds sway in Myanmar clearly wants to ensure that Aung San Suu Kyi does not participate in...
07 Dec 2021

Losing fiscal discipline

ONE of the several changes proposed in the Fiscal Responsibility and Debt Limitation Act of 2005, seeking major...
07 Dec 2021

Taliban brutality

LAST WEEK, the US, the Western countries and other allies joined hands to condemn the Afghan Taliban for the alleged...
Dangerous justification
Updated 07 Dec 2021

Dangerous justification

AT a time when millions worldwide are consumed with anger and despair over the barbaric lynching of a Sri Lankan...