Pakistan remains on FATF’s terror funding ‘grey list’
The decision will be taken on removal from the gray list after the on-site review
Imran was eager to take credit even before FATF’s decision

The FATF (Financial Action Task Force) said on Friday that it has kept Pakistan on its terror funding ‘grey list’. The FATF has decided to keep Pakistan on the gray list for the time being after the review meeting held in Berlin. . For this, now Pakistan will have to go through another ordeal.

Pakistan has suffered a setback on the front to curb terror and take action. The Global Terror Financial Action Task Force (FATF) has said that Pakistan will not be removed from the gray list immediately and a decision will be taken only after an onsite visit.

The statement issued said that Pakistan has completed two action plans. A visit to the site is needed to verify whether the implementation of the reforms has started and is continuing. It also needs to be seen that the ‘political commitment needed to sustain future implementation and reform remains’. However, FATF has welcomed the steps taken by Pakistan. Action taken on 34 action points has also been accepted.

What is an onsite visit?

When the FATF review meeting which is done to access the list of countries put on the list, there is an onsite checking on the action plan and the actions taken by a country. In this, a team of FATF visits that country and assesses whether the steps taken by that country are permanent and effective or not. After this, the FATF decides to take that country out of the gray list.

Pakistan is in the gray list since 2018

Let us tell you that the reason for Pakistan’s failure to provide shelter and funding to money laundering and terrorism is in the gray list of FATF since the year 2018. Hina Rabbani was given an action plan to be completed by October 2019. But she also failed in this and remains on this list till now.

FATF President Marcus Player says that it cannot be said at the moment when the team will tour Pakistan. But this will happen before the next FATF meeting in October. Only after this on-site visit, a decision will be taken regarding the exclusion of Pakistan from the gray list of FATF.

The process started with the initiative of Bilawal

The process began after US Secretary of State Antony Blinken met Bilawal at the United Nations in May. After that most Western countries and China had approved Pakistan as a member of the working group in an emergency meeting.

Not good news for India

The decision to keep Pakistan out of the gray list is not good news for India as Pakistani agencies are already sending small arms and IEDs to Kashmir on a large scale. Indian agencies have already been alerted about these growing threats and the Jammu and Kashmir Police have also intensified their preparations.

What is FATF?

The FATF is a body that works at an international level. It seeks to prevent international financial crimes, which are committed to promote terrorism.

Why was Pakistan banned?

There were allegations against Pakistan that money laundering and financial assistance to terrorists are being done there. After this, he was put on the gray list in 2018. He was given time till October 2019 to implement the action plan but he could not comply with the orders of the FATF, since then it remains on this list.

Financial aid stops

In the country which is put on the gray list, its surveillance increases. It is also called an increased monitoring list. Putting Pakistan on the gray list has made it difficult for it to get financial aid from the International Monetary Fund, the World Bank, the Asian Development Bank, and the European Union.

Although the gray list of FATF does not impose restrictions like the black list, but it alerts the rest of the countries. The global financial and banking system also understands that working here is not without danger.

Now 22 countries will be on the gray list

As of March 2022, a total of 23 countries were on the gray list. It includes Pakistan as well as Syria, Turkey, Myanmar, Philippines, South Sudan, Uganda, Yemen, etc. But now the name of Pakistan will be removed from this list