New Delhi, With all-weather friend China heading the FATF, and backed by two other “brotherly countries” of Malaysia and Turkey, Pakistan has bought itself four months time from the global watchdog on terror financing to eliminate the twin evils of terror financing and money laundering – a tall task by all counts.
Already in the grey list, Pakistan was set to have been downgraded to black for having failed in its compliance of the measures to tackle terror financing and money laundering, but was bailed out by its friends, and its strong lobbying with the US.
The extra time was given to Pakistan at the FATF Week, which was held in Paris from Sunday to Wednesday, where Pakistan presented its compliance report on the measures sought by it by the Financial Action Task Force.
According to Pakistani media reports, at the meeting on Tuesday, India recommended that Pakistan be downgraded to the black list for allowing UN proscribed terrorist Hafiz Saeed to withdraw funds from his frozen accounts.
Concerns were also raised about the tax amnesty scheme launched by the Pakistan government in May this year to regularise unaccounted assets.
However, based on the outright support extended by Turkey, China and Malaysia, the FATF decided not to include Pakistan on the black list and give it more time to implement the remaining measures...
https://www.samajweekly.com/good-friends-buy-pakistan-four-months-to-eliminate-terror-financing-but-can-it/