US puts forward motion to place Pakistan on global terror financing watch-list

The United States of America (USA) has been using a tough stance against Pakistan, asking the country to do more to fight terrorism. After President Trump’s harsh words and curtailment of financial aid to the country, the US has not put forward a motion to place Pakistan on a global terrorist-financing watch-list with an anti-money laundering monitoring group.

According to a senior Pakistani official, a meeting of the Financial Action Task Force (FATF) member states is set to take place in Paris next week, where the organization could adopt the motion on Pakistan.

The FATF is an intergovernmental body which is based in Paris and it sets global standards for fighting illicit finance. According to sources, the United States and Britain put forward the motion to put Pakistan on the list several weeks ago and later pushed Germany and France to co-sponsor it.

“We are now working with the US, UK, Germany and France for the nomination to be withdrawn,” Pakistan’s de-facto Finance Minister, Miftah Ismail said, speaking by telephone from Europe.

“We are also quite hopeful that even if the US did not withdraw the nomination that we will prevail and not be put on the watchlist.”

The move could have an adverse effect on Pakistan’s economy as it puts extra restrictions on money transfer. Pakistan has been struggling for the past few months to avert being added on the list but it appears that this is proving to be very difficult. The country was previously placed on the list from 2012 till 2015.

Short URL: https://www.newspakistan.pk/?p=56048

Posted by fatimaarshad on Feb 14 2018. Filed under Latest News, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.