• News
  • World

Pakistan slams report of FATF putting it on terror financing watchlist

Pakistan slams report of FATF putting it on terror financing watchlist

"Pakistan has serious concerns over the motion moved by USA and United Kingdom at the Financial Action Task Force to put the country on the grey list."Experts say that being placed on the FATF watch list would put Pakistan under extra scrutiny by regulators and financial institutions which could hamper trade and hurt foreign investment, that too when a general election is due in about six months".

The Pakistani government official said the South Asian nation would be officially placed on the Financial Action Task Force (FATF) watchlist in June at its next meeting, which is why the FATF statement on Friday did not mention Pakistan.

China, Saudi Arabia and Turkey - the three close allies of Pakistan - have joined hands to block a move by the Trump administration to place Islamabad on an worldwide terror-financing watch list, a U.S. media report said. During the International Country Risk Guide (ICRG) session that took place a day before FATF plenary, some member countries had raised the question that there was no analysis available to judge Pakistan's action, said the officials.

An article in The Wall Street Journal said that Turkey, China and Saudi Arabia were the "friends" who had come forward and blocked the United States motion to place Pakistan on the grey-list.

Pakistani officials and Western diplomats had said being put on the FATF watchlist could deal a blow to Pakistan's economy, making it harder for foreign investors and companies to do business in the country.

Islamabad has sought to head off the move by amending its anti-terrorism laws and by taking over organizations controlled by Hafiz Saeed, a Pakistan-based Islamist whom Washington blames for the 2008 Mumbai attacks that killed 166 people. They claim that during the meeting when the representative of Gulf Cooperation Council raised hand to speak, the USA representative rushed to the GCC seat and asked the representative not to speak, according to the officials.

The meeting concluded Friday, February 23, without any explicit measures announced against Pakistan with respect to terrorism financing. During the resolution the three countries remained silent. But he played down China's role, saying the Chinese were "helpful" to Pakistan.

On Tuesday, Foreign Minister Khawaja Asif tweeted that Pakistan had received a 3-month reprieve, adding that it was "grateful to friends who helped".

Pakistan has received some $33 billion in USA aid since 2001, according to Washington.

The next plenary meeting of FATF is expected to take place in June this year.

Informed sources said behind the scenes, the US worked hard to bring Saudi Arabia around, Germany worked on the GCC, while India was able to speak to Russian Federation.

Leave Your Comment

Leave Your Comment


Latest News

  • Black Panther 'shatters false Hollywood beliefs' says Will Smith

    Black Panther 'shatters false Hollywood beliefs' says Will Smith

    The character of Black Panther and others featured in the film will appear in the upcoming May release, Avengers: Infinity War . Black Panther had North American box office of $202 million over the three-day and $242 million for the four-day weekend .
    States Refile Lawsuits to Block Repeal of Net Neutrality

    States Refile Lawsuits to Block Repeal of Net Neutrality

    Given that he backed the FCC's repeal of net neutrality provisions, the chances of that happening seem slim right now. Still, Thursday's filing was expected to open the door to challengers of the decision, The Hill reported .
    Google faces lawsuit for firing critic of anti-diversity memo

    Google faces lawsuit for firing critic of anti-diversity memo

    For now, Google remains legally challenged and internally mired in the same culture war that's engulfed much of the country. Google, on its part, says that employees should be communicated in a manner that complies with the company's policies.
  • Gender pay gap at Tenet revealed

    Gender pay gap at Tenet revealed

    Barclays group service, which includes operations and technology, had a salary gap of almost 30% and a bonus pay gap of 24%. Firms with 250 employees or more in Britain have until April 4 to report the difference between what men and women earn.
    Jose Mourinho admits concern over Ander Herrera's 'bad injury' during Sevilla draw

    Jose Mourinho admits concern over Ander Herrera's 'bad injury' during Sevilla draw

    Mourinho stressed the French worldwide gave "stability" to United in their goalless draw against Vincenzo Montella's side. The Chilean has not been playing in the way United fans hoped he would when he signed for the Devils this January.
    Harry and Megan Anthrax Threat

    Harry and Megan Anthrax Threat

    Officers from the Metropolitan Police's counter-terrorism command were called in after the letter was received on February 12. Tests revealed the powder was harmless but Scotland Yard is now said to be on high alert ahead of the royal wedding in May.
  • Barclays profits damaged by charges including £127m Carillion hit

    Barclays profits damaged by charges including £127m Carillion hit

    The bank will make a final decision once the outcome of the Financial Conduct Authority investigation is complete. Barclays bosses said after the results were posted that the bank would take a £127m hit from Carillion's failure.
    Fortnite Battle Royale Hand Cannon Teased in Latest Video

    Fortnite Battle Royale Hand Cannon Teased in Latest Video

    Completing all 100 tiers will earn you 6 outfits, 3 pickaxes, 4 emotes, 3 gliders, 23 banners, and 21 emoticons. And Epic Games has done a fantastic job of monetizing a free to play game with the Battle Pass system.
    Conor McGregor itching for return to UFC

    Conor McGregor itching for return to UFC

    This does signal to me that McGregor is very close to returning, and that should make fighting fans everywhere pumped. No opponent has been lined up for the Irishman in either the UFC or boxing.
  • This Is the Mercedes W09 Formula 1 auto

    This Is the Mercedes W09 Formula 1 auto

    Reigning world champions, Mercedes-AMG Petronas have finally revealed their 2018 Formula 1 contender at the Silverstone circuit. If it lives up to expectations, the F1 W09 EQ Power + will also help the team achieve a fifth consecutive constructors title.
    Intel partners with Dell, Lenovo, and HP to build 5G-ready PCs

    Intel partners with Dell, Lenovo, and HP to build 5G-ready PCs

    Intel also expects to show off its PC modems that support eSIM technology at the Mobile World Congress in Barcelona. Intel is fighting Qualcomm and Samsung in this market so this partnership is pretty important for them.

    Final Fantasy XV Windows Edition Gets Demo and Half-Life Content

    This release comes with all existing Final Fantasy XV content, as well as 4K support and a first-person camera mode. Final Fantasy 15 is available now for PlayStation 4 and Xbox One, and will launch on March 6 , 2018 for PC.
  • Team USA Beats Canada to End Women's Olympic Hockey Gold Medal Drought

    Team USA Beats Canada to End Women's Olympic Hockey Gold Medal Drought

    It marked the second time the team from the Duluth Curling Club beat Canada in a week - and now will face Sweden in the gold-medal game at 12:30 a.m.
    Ryan Coogler Writes Emotional Thank You Letter After Black Panther's Opening Weekend

    Ryan Coogler Writes Emotional Thank You Letter After Black Panther's Opening Weekend

    I encourage you all to break social norms, show love to all your brothers and sisters, not just the ones that look like you. The movie was directed by Ryan Coogler , a young black man from Oakland who graduated from Sacramento State University.
    Hughes returns for England

    Hughes returns for England

    Sunny isn't often used to describe the scene at Murrayfield in February but the weather is set fair for Saturday's Calcutta Cup clash.
  • Broadcom lowers bid for Qualcomm after increase in NXP price

    Broadcom lowers bid for Qualcomm after increase in NXP price

    That was enough to secure support from holders, including activist Elliott Management Corp., of about 28% of NXP's stock, it said. It dived, as 43 investors sold CVX shares while 696 reduced holdings. 31 funds opened positions while 87 raised stakes.
    Cheryl hints at wild love life with Liam Payne

    Cheryl hints at wild love life with Liam Payne

    And Liam was set to perform steamy new single For You with Rita Ora at the awards, which he is now promoting. Now, The Sun have claimed Cheryl and Liam didn't even speak much during their night out.
    Another 200 Toys 'R' Us Stores To Close, Report Says

    Another 200 Toys 'R' Us Stores To Close, Report Says

    Toys R Us hasn't reported its holiday results, but USA Today said store sales dropped 9 percent and online sales fell 20 percent. Meanwhile, CNBC has reported that Toys R Us is potentially at risk of breaching the covenant on one of its loans.

Breaking News



Recommended

Kentucky basketball to conduct internal review into possible NCAA violations

Much of this information was found after a raid on former National Basketball Association agent Andy Miller's office. At least 20 Division I basketball programs and more than 25 players were listed that violated NCAA rules.

Democratic Governors Form 'States for Gun Safety' Group

As states, we must work together to take the steps and enact the measures to protect our residents and our communities. The governors say it's part of an effort to tamp down on buying and transporting guns across state lines.

Land Rover Explorer Smartphone Is As Rugged As A Land Rover SUV

The "Explore", which is created to be drop proof, runs Android's Nougat - the seventh edition of its operating system. The phone has been developed alongside the Bullitt Group , and is fully compatible with Land Rover's in-car apps.

Stormzy Takes Aim At Theresa May With Grenfell Criticism At The Brits

Last night, the who's-who and who's-that of the British music industry gathered in London for the annual BRIT Awards . Elaine Crowley got a tattoo of a unicorn which she revealed to viewers on the Elaine show on TV3 yesterday.

Olympic Half-Pipe Hero Doesn't Know How To Do Any Tricks

I say she used ambition, hustle, and grit (and yes, she revealed some absurdity in the process). "No, she's part of the game". As Lady Gaga blared over the speakers, the crowd watched in silence for sparse applause at the end.

Chesapeake Energy hails 2017 as "pivotal year"

The Dow Jones Industrial Average rose 1.2% on Thursday while the S&P 500 was up 1% and the Nasdaq Composite Index was up 0.8%. The New Jersey-based Private Advisor Group Inc Ltd Company has invested 0.01% in Chesapeake Energy Corporation (NYSE: CHK ).

Ed Sheeran addresses rumours that he's already MARRIED to Cherry Seaborn

While engagement rings for men (or " mangagement rings ") aren't totally unheard of, they're definitely not a common trend. When Sheeran was first seen wearing the ring earlier in the week, fans wondered if he had secretly Wednesday .

Janelle Monae Drops "Make Me Feel" and "Django Jane" Videos

Dirty Computer follows her previous two studio albums, ArchAndroid and Electric Lady, which featured guest spots from Prince and Miguel.

Armenia ranked 107th in Corruption Perceptions index 2017

Journalist and social activist Gauri Lankesh's murder in Bengaluru in September 2017 had triggered countrywide protests . The report clubbed India with the Philippines and the Maldives as the worst nations in the Asia Pacific in this respect.

Is Selling Digital Realty Trust, Inc. (DLR) Here a Winning Strategy?

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Landscape Capital Management Llc increased Vornado Rlty Tr (VNO) stake by 38.95% reported in 2017Q3 SEC filing.