Pakistan placed on FATF grey list

Anwar Iqbal Published June 28, 2018

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

FATF

Newspaper

Anwar Iqbal is the Washington correspondent for Dawn. During a long journalism career, he has interviewed world leaders and cultural icons, including US Presidents George W. Bush and Barack Obama, poets Faiz Ahmed Faiz and Josh Malihabadi, Bacha Khan, Nobel laureate Abdus Salam, and humanitarian Abdul Sattar Edhi.

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Ash

Jun 28, 2018 07:33am

After all there is limit to everything.

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Jun 28, 2018 07:35am

Good

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ABCD

Jun 28, 2018 07:35am

Good for Pakistan. It should be a reason to restrict monetary transactions by terrorists and unrestricted donations by public.

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Aamir

Jun 28, 2018 07:36am

So Dawn leak was right!

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saeeds

Jun 28, 2018 07:38am

This is big news and why our media don’t say anything about this issue.

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Aamir

Jun 28, 2018 07:38am

So Dawn leak was right, remember this headline "Exclusive: Act against militants or face international isolation, civilians tell military"

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Abbas kd

Jun 28, 2018 07:43am

On the positive note this might be a blessing in disguise for Pakistan & for Pakistani nation. Now Pakistani government officials would hopefully be more proactive in getting rid of the loopholes in our financial system that are being exploited by terrorists, by criminals & by the corrupt rich people or politicians themselves. How can we forget nothing happened to the model Ayyan who was caught with more than half a million US dollars in her bag trying to fly out but was let go free without any consequences ?

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Hwh

Jun 28, 2018 07:43am

At least pakistan is saved for the time being for not enlisted in black list. Still time is there to repair the damage. Come heavy on terrorism of any kind without doing "global" politics. Repair the relationship with neighbours.

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Socrates

Jun 28, 2018 07:43am

We should always 'act' in time rather than always 'react' later on as we shall do now. We as a nation are mature enough to comprehend the ramifications of such moves and therefore should not put coming generations' future at stake. Still there is time to act.

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Yuvaraj Tamil Nadu

Jun 28, 2018 07:44am

Time to accept the truth

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Jun 28, 2018 07:45am

Rupee is already in free fall! With this news, whatever little investment coming in that will stop too taking Rupee to 200 per dollar by December.

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Magnanimous approach

Jun 28, 2018 07:51am

State Bank of Pakistan is a foreign exchange regulatory institution, and Pak foreign remittances laws are very stringent and fullfill the modern financial codes, and Pak Schedule Banks too are best performing accepted banks.The FATF recommendation is factually not right. It's a political gimmick to press unduly the Care Taker Govt, which has no part or mandate to comment on this subject. Ofcourse our well educated & talented officers at State Bank can well answer all questions anyone has about foreign remittances which are critically monitored.

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Hind

Jun 28, 2018 07:54am

Step in the right direction...

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India

Jun 28, 2018 07:57am

India would be next I tell you.

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India

Jun 28, 2018 07:58am

They have been there. They barely noticed.

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raj

Jun 28, 2018 07:59am

Nobody is surprised. Black list soon enough.

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champ

Jun 28, 2018 08:03am

Grey, blue, black. Who cares actually. This is the West's frustration over Pakistan getting out of its grip. Nobody in Pakistan even knew when we were there last time.

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Hwh

Jun 28, 2018 08:05am

If it is true then consider yourself lucky. Just missed the black list. But it may become reality if the authority do not take it seriously. I can't understand that the decision making authority why don't understand that the theory of 1980 are no longer valid. And you can't fool the world everytime. In one hand you are allowing a terrorist to contest election and telling the world that you have sacrificed so much. Even you have done but no one will believe that. So stop trying to fool yourself and the world. Else future will be more horrible.

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Gulshan

Jun 28, 2018 08:05am

Who's surprised?

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SYR

Jun 28, 2018 08:06am

It is not a surprise as it was known a long time ago. After gray, it will be black.

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Khan

Jun 28, 2018 08:07am

FATF is influenced by Pakistan enemies, so no matter what Pakistan does in helping will not effect the outcome.So best route is to stop all cooperation and communications till bias behavior is changed.

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kamal

Jun 28, 2018 08:09am

I am not surprised at all.

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Dr Riffat Jabeen

Jun 28, 2018 08:10am

Poor diplomacy on the part of the country. What can you expect from others when you yourself are not serious about your national issues and problems.

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Dr Riffat Jabeen

Jun 28, 2018 08:14am

Unfortunately Corrupt practices and dishonest leaders have been harming national interests. There should be an end to it now.

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Majnu

Jun 28, 2018 08:15am

I guess not getting into blacklist is still a success. Given the fact how openly Hafiz Saeed and Masood Azhar are collecting money in the name of charity.

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Concerned citizen

Jun 28, 2018 08:17am

What a shame ! A total failure of our foreign policy Thank you Noon league

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Jai

Jun 28, 2018 08:18am

Let's hope that this acts as a catalyst for Pakistan to change course.

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Logical Indian

Jun 28, 2018 08:21am

Time for Pakitan for a deep introspection rather than blaming India and the west

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Khaan

Jun 28, 2018 08:21am

It is high time for Pakistan to rise on its feet, develop herself as strong nation, bring policies that improve the life of the people, invest in science and technology, healthcare and environment. Pakistan also need to sit tightly with the neighboring countries to settle down the issues and move forward. Pakistan people cannot wait for centuries, our kids need a better place to live. I feel no ashamed to say that we need a leader like Modi who can upright our nation and bring what so called- SELF-RESPECT. Dr. Shahenshah Khaan. Boston,US.

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Shyam

Jun 28, 2018 08:23am

Now Foreign policy will get even more complicated.

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Vab

Jun 28, 2018 08:23am

Why the common man suffers due to wrong policies of the state and it's institutions ?

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420

Jun 28, 2018 08:23am

Sooner or later things happens it’s way.

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Dr Riffat Jabeen

Jun 28, 2018 08:24am

This is what you are rewarded with after sacrificing financially and losing precious lives of innocent people in the country ... just because of the leaders having no leadership qualities. Victims are unable to present their case ...

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Islamabad morning

Jun 28, 2018 08:31am

Not a good news indeed. See what NS was saying was for our benefit not to tag him as anything. NS tried hard to pull us out of this mess through different narratives and dawn leaks but we didnt bother and instead umpires used different institutions agaibst NS. Instead of correcting ourselves whoh our friends like China dn Russia as well say we are fightibg with the one who talks of improvment. Now please try to tag traitor the China or russia you will taste the medicine. Also NS now fights for civil supremacy it still time to vote him and give us the poor civilians the power and not to umpires by voting IK

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Prateik

Jun 28, 2018 08:33am

Hope the new government takes remedial steps.

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PakiSTAN

Jun 28, 2018 08:37am

China also voted against Pakistan.

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The Artist

Jun 28, 2018 08:40am

A politically motivated move by Washington, they would rather blame Pakistan for not liberating Afghanistan in the fight against terrorism rather than look to thier own failure. We have paid the price for this War and enough is enough.

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Saleem Khan

Jun 28, 2018 08:41am

US at work...time to wake uo Pakistan and realize who is your real enemy. Look around how muslim countries and being butchered and economically destroyed. Wake UP

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Ahsan Gul

Jun 28, 2018 08:42am

The only government/party we can blame is PML-N And NAwaz Sharif. These guys intentionally did nothing to protect Pakistan’s interest but their bank accounts,

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Waqar

Jun 28, 2018 08:44am

India & US strongly lobbied, along with Europe against Pakistan.

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KSRana

Jun 28, 2018 08:46am

Next is blacklist

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David

Jun 28, 2018 08:47am

Pakistan representation was pathetic in FATF.

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Syed

Jun 28, 2018 08:50am

No wonder - we have such Rich political leaders whose source of earning is clear as "mud" - who owns millions of dollars of properties outside Pakistan - and YET ppl still vote them and consider them as the democracy saviors. SC and NAB should move swiftly and effectively - without giving any leniency and extract the looted money from corrupt leaders; loan defaulters and etc.... otherwise simply taking actions without any visible results will not translate into better Pakistan

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Alien1

Jun 28, 2018 08:51am

Looks like nawaz sharif is going to be blamed for this as well.

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Sharjeel lasharie

Jun 28, 2018 08:53am

@Magnanimous approach you can continue to stay in a state of denial and keep playing the victim card...who cares

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Azad

Jun 28, 2018 08:59am

Can't fool the world anymore.

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TOMATO

Jun 28, 2018 09:02am

@India Nice try...

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Grim

Jun 28, 2018 09:02am

@Waqar US and India, alongwith Europe? Ok And remember China also threw you under the bus? That means everyone of importance in the group lobbied against you, and no one for you. Time to rethink why.

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TOMATO

Jun 28, 2018 09:03am

@champ Your chest-thumping would have been justified if you didn't live on World Bank money...

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CRV

Jun 28, 2018 09:11am

@Magnanimous approach You may be right on some point. But the real problem with Pakistan has ALWAYS been political instability and VERY weak Civilian Government. Corruption cannot be the ONLY problem ....if you put proper check and balance in place and independent judiciary and strong Press and Senate to guard the Constitution....but .....they are also under pressure in Pakistan !!!!

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Last Word

Jun 28, 2018 09:31am

Well, the obvious has happened. However, Pakistan needs to be extra vigilant and take concrete measures to avoid placing on blacklist which is definitely on the cards. The resulting sanctions can completely cripple the country already facing huge financial crisis.

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Last Word

Jun 28, 2018 09:38am

This is very bad news for Pakistan. The next step ie blacklisting is being planned methodically and impose sanctions to cripple the country completely already facing huge financial crisis.

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Asma shaheen

Jun 28, 2018 09:55am

Good

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Allauddin Choudhry

Jun 28, 2018 11:12am

@Dr Riffat Jabeen 100% True

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Harris

Jun 28, 2018 04:40pm

For all those who feel Pakistan is stuck in 80s are completely detached from ground realities of the country. It’s in the interest of Pakistan’s friends and enemies to put pressure on the country for varying reasons. Pakistani technocrats should hold firm about what is done & lobby global corridors to correct media’s approach to Pakistan... We know what we are doing...

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