Crop. FATF gray list remains unchanged: blacklist will be blacklisted in four months

Paris, Ta. February 21, 2020, Friday

A meeting of the Financial Action Task Force was held in Paris. An important decision on Pakistan was to be made. China intervened and saved Pakistan, so instead of being included in the blacklist. Currently the gray list remains unchanged. If strict action is not taken within four months, the inclusion of the blacklist is decided.

The FATF meeting threatened to blacklist Pakistan, but since China's Shingmin Lu is the head of the organization, Pakistan has received some relief lately. The meeting decided to keep Pakistan on the gray list for failing to take strong measures against terrorism.

The Action Task Force has directed Pakistan to take 27 actions and give them four months. If Pakistan fails to withhold funding from terrorist organizations within four months, the proposal for blacklisting has been approved at the meeting. Pakistan made several attempts to get out of the gray list. It was announced on behalf of Pakistan that terrorist organizations have no funds and adequate measures have been taken.

Finance Minister Hammad Azhar represented Pakistan at the meeting. In October last year, the FATF pushed Pakistan to the gray list and gave a task for the next six months, noting that it failed to take action against terrorism.

Pakistan was alleged to have funded organizations such as Jaish-e-Mohammad and Lashkar-e-Taiba. Pakistan will now have to work on 27 action plans by June-2020. If the action is taken as per the plan, then the gray list will be considered and if not, the blacklist will be included.

Pakistan handed over a 650-page review report to the Action Task Force in January, stating that funding for terrorist organizations had been withheld. However, the report was not approved by the Action Task Force and decided to remain on the gray list.