Skip to main content

Pak Doesn't Show Understanding Of Terror Financing Risks: Watchdog FATF

Pak Doesn't Show Understanding Of Terror Financing Risks: Watchdog FATF
The global terror financing watchdog Financial Action Task Force has strongly condemned the Pulwama terror attack at its plenary meeting, which just concluded in Paris today. The FATF said Pakistan has not done enough to curb the finances of terror groups like the Jaish-e-Mohammed and Lashkar-e-Taiba. This means Pakistan continues to remain in what is called the FATF 'grey list', making it hard for the country to get international loans.
"The FATF notes with grave concern and condemns the violent terrorist attack last week that killed 40 Indian security forces in Pulwama," the 38-member watchdog said in a statement. "Such attacks cannot occur without money and the means to move funds between terrorist supporters," it said.
"Pakistan does not demonstrate a proper understanding of the terror financing risks posed by JuD, LeT, JeM, and persons affiliated with the Taliban... Pakistan should continue to work on implementing its action plan to address its strategic deficiencies," the FATF said.
Pakistan has until May 2019 to complete its action plan. If Prime Minister Imran Khan's country does not meet the targets by October, it could be blacklisted.


Pakistan was placed on the 'grey list' in June last year and was lobbying hard to be removed from this list at this meeting.
"A dossier, nailing the culpability of Pakistan in the terror attack in Pulwama, will be given to the FATF," a senior intelligence official had told NDTV last week, two days after the Pulwama attack. Through this dossier, India wants to expose the neighboring country's links with terrorism and build pressure on Pakistan, sources had said.
Sources had said the Paris-headquartered FATF will also be told through the dossier how Pakistani agencies are providing funds to the Pakistan-based Jaish-e-Mohammed, which has claimed responsibility for the car bomb attack on a CRPF convoy on the Jammu-Srinagar highway last week.

The FATF blacklist means the country concerned is "non-cooperative" in the global fight against money laundering and terrorist financing. If the FATF blacklists Pakistan, it may lead to a downgrading of the country by lenders like the International Monetary Fund, World Bank, Asian Development Bank, and the European Union.

Pakistan is reeling under a huge debt burden, and Mr. Khan has been going around the world seeking a bailout package. Saudi Arabia and the UAE have promised aid and investments. Earlier this month, IMF chief Christine Lagarde met Mr. Khan and assured him that IMF stands ready to support his country.

Pakistan getting blacklisted by the FATF will likely hurt its finances and may derail its planned investments and incoming aid, plunging the country into a serious balance of payments crisis from which recovery would be hard.

Comments

Post a Comment

Popular posts from this blog

Nokia launches slider phone

                               NOKIA LAUNCHES The makers on Nokia phones, HMD Global https://youtu.be/x9pfxA96Brs , on Thursday, introduced the refreshed version of its previously popular slider phone — the Nokia 8110. Taking advantage of the current festive season of Durga Puja and Deepawali, the 4G feature phone comes with a curved body and a slider covering the keypad. Popularly known as the ‘ banana phone ’ will be positioned as a companion device for users that are already using a smartphone. It is priced very competitively at Rs. 5,999. https://thepolicytimes.com/nokia-launches-slider-phone-nokia-8110/
Post a Comment
Read more

Cancer is a Word, Not a Sentence

 Cancer is a Word, Not a Sentence No matter how dark night, it must be followed by dawn. No matter how painful the fight, cancer must go so you can live on . If your will to live is inspirational and your fight is motivational, your recovery will be sensational. You are my inspiration because even as this illness ravages you I can see your strength in how you strengthen others and how you are holding on. I am praying for you, and I am also here for you. Cancer is a shipwreck but there are lifeboats called “ HOPE” and “COURAGE ” waiting to take you back to the mainland. All you have to do is swim to them and then paddle with all your heart. Life after cancer: Eat, travel, read, laugh, have fun, cuddle, kiss, dance, exercise, work, play, write, run, sleep, ride, flirt, celebrate, love, smile, cook, hug – yes, it is all worth fighting for. The battle with cancer is long and hard, but this is one battle you will be glad you fought. Choose hope over despair, choo...
Post a Comment
Read more

Top 10 Richest Bollywood Actors 2019

Top 10 Richest Bollywood Actors 2019 Being a star in Bollywood means you will be getting paid handsomely each year in your filming career. It is one of the perks along with the fame, name, and legacy the stars are able to get. Bollywood stars earn so much that it becomes difficult to track who is on top and how much they are able to earn each year. As there are numerous richest Bollywood actors, we have tried to narrow down the list and choose the richest actors in India so that you get a clearer picture of who is on top and who is on the rise. 10. Hrithik Roshan – US $45 Million 9. Irrfan Khan – US $50 Million 8. John Abraham – US $55 Million 7. Ranbir Kapoor – US $66 Million 6. Dharmendra – US $70 Million 5. Akshay Kumar – US $200 Million 4. Aamir Khan – US $200 Million 3. Salman Khan: US $220 Million 2. Amitabh Bachchan – US $405 Million 1. Shahrukh Khan – US $740 Million Shahrukh Khan  Shahrukh Khan, also known as SRK or King Kha...
Post a Comment
Read more