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Pakistan gets reprieve from FATF on terror watch-list: Asif

Pakistan gets reprieve from FATF on terror watch-list: Asif

She was responding to a question on a tweet from Pakistan's Foreign Minister Khawaja M Asif, that there was no consensus at the FATF meeting to place Pakistan in the grey list which is a watch-list of countries that need to do more in relation to anti-money laundering and combatting the financing of terrorism. He further said the Asia Pacific Group, which is part of FATF, was asked to consider another report in June.

Pakistans Foreign Minister Khawaja Asif took to social media early this morning to announce that "our efforts paid" and "no consensus for nominating Pakistan" for the watch-list was reached at the conclusion of meeting on the US-led motion.

"It is Pakistan's diplomatic failure", Imran Khan while commenting on the meeting of the FATF - an global body aims at to combat money laundering and terror financing - held in Paris to deliberate upon a United States motion to place Pakistan in FATF's grey list over non-compliance of its set standards which bars money laundering and terrorist financing.

Asif in a midnight tweet thanked "friends" who helped Pakistan avoid a major worldwide embarrassment.

She elaborated that the USA had been concerned about Pakistan's actions for a long time. "That would be a punishment for Pakistan because the economic situation right now is quite precarious".

The global community continues to have concerns about deficiencies in Pakistan's anti-money-laundering and counterterrorism financing system, even though Islamabad has begun taking steps to address the flaws, the official said.

The reprieve comes a week after Pakistan quietly amended its anti-terror laws to ban groups listed as terrorists by the United Nations.

Asif, who is on a three-day trip to Russia, is accompanied by Special Secretary Tasneem Aslam, Ambassador of Pakistan to Russia Qazi M Khalilullah and Additional Secretary Zaheer Janjua.

This will increase the cost of opening letter of credits for trade purposes.

"Today, we can state that cooperation with Pakistan features prominently on the list of Russia's foreign policy priorities", Russian Foreign Ministry spokeswoman Maria Zakharova said last week in Moscow.

Both the Foreign Ministers expressed satisfaction at the increasing bilateral cooperation and agreed to further intensify efforts to deepen cooperation in all areas of mutual interest. The negative decision by the FATF will have the force to affect the global credit ratings, which will in turn increase cost of borrowings for the government.

At present, the 11 jurisdictions are on the high risk and monitoring list of the FATF, which include North Korea, Iran, Iraq, Syria, Yemen and Ethiopia.

Those commitments remained unmet even as the Fatf meeting got underway going by the videos of Saeed, a designated terrorist, preaching his message of hate that Islamist groups continue to distribute online.

This is unedited, unformatted feed from the Press Trust of India wire.

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