Pakistan Safe From FATF Blacklist Till 2020 – Free PDF

SO WHAT HAPPENED IN OCT 2019?

•  International terror financing watchdog FATF retained Pakistan on the Grey List and warned the country of action for its failure in combating money laundering and terror financing

THE WORDS

• It is “highly probable” that Pakistan will be formally black listed by global terror funding and money laundering watchdog FATF if it does not swiftly act against terror funding by February 2020.
•  The Paris-based FATF took the decision after its five-day plenary, which concluded in the French capital.

HOW WAS PAKISTAN SAVED?

• China leading FATF could have played a role in saving Pakistan this time around Fatf President – Xiangmin Liu

POINT TO NOTE HERE

• The Presidency is a one year term which begins on 1 July and ends on 30 June of the following year. If India or a friendly country to India becomes FATF President we might see Pakistan in FATF blacklist

FATF IMPACT

•  Financial Action Task Force (FATF) may put at risk the impending $6 billion IMF bailout Blacklist will also mean difficulty in trade and investment Iran and North Korea are the only countries on the blacklist so far.

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