‘To avoid FATF blacklist’, Turkey, China, Malaysia in support

Karachi: Turkey, China and Malaysia would support Pakistan to avoid being placed in blacklist of Financial Action Task Force (FATF).

Islamabad has been on global money laundering watchdog’s radar since June 2018, when it was placed on a grey list for terrorist financing and money laundering risks after an assessment of country’s financial system and security mechanism.

While, New Delhi, co-chair of joint group of FATF and Asia Pacific Group wants Islamabad to be placed on Paris-based watchdog’s blacklist of countries.

According to 36-nation FATF charter, support of at least three member states is essential to avoid blacklisting.

However, an official at Pakistan’s Foreign Ministry admitted that “Danger is still not over”.

The group will formally announce decision of not blacklisting Islamabad in its Plenary scheduled in Paris in October.

The watchdog agreed that Islamabad had made progress towards implementation of action plan-negotiated between Pakistan and FATF members.

 

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