Pakistan avoids being put on the FATF blacklist

Islamabad: Pakistan has managed to avoid being placed on the blacklist of the FATF (Financial Action Task Force), the news agency reported. According to the report, Islamabad was able to gain the support of China – its friend for all weather conditions – Turkey and Malaysia, to avoid putting on the blacklist of FATF.
Although there was no official confirmation of the same, the current status of Pakistan to be placed on the FATF Gray list can contribute to the financial problems of the country.
According to PTI news agency, Mohammad Faisal, spokesman for Pakistan’s foreign ministry, declined to comment on developments. The agency’s report, however, states that the support of at least three members is necessary to avoid putting it in the blacklist.
“The dangers are still not finished, it’s certainly a positive development, because FATF does not have a direct blacklist because of key support from Turkey, China and Malaysia,” Turkey’s Foreign Affairs Agency Anadol said. .
Pakistan was placed on the Gray List in June 2018. Islamabad received 27-point action plan by an organization in Paris with 36 member states. Pakistan was required to comply with the 27-point action plan by January 2019, blocking financial holes and money laundering from its own country.
The deadlines were re-negotiated in February, and a new deadline for completing the action plan was completed by June 2019. Last month, at a meeting held in Chinese Guangzhou, Pakistan was asked to do more than 18 out of 27 points.
According to reports citing FATF guidelines, Pakistan requires at least 15 out of 36 votes to be removed from the Gray List. In the meantime, in response to a question about FATF’s blacklist of Pakistan, MEA spokesman Raveesh Kumar said: “This is a delicate issue. That is the matter that the FATF members have made to the decisions. We will see whether we will react or no. “

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