Pakistan to stay on FATF's grey list: Official to WION

File photo of Pakistan PM Imran Khan. Photograph:( AFP )

WION New Delhi, Delhi, India May 29, 2019, 04.28 PM (IST) Sidhant Sibal

Pakistan is certain to stay on the grey list in the next meet of Financial Action Task Force (FATF), an official from FATF member countries told WION on Wednesday.

FATF which looks into money laundering and terrorism financing will meet from June 16 to 21 in Orlando, Florida.

The main discussion of the meeting would be Pakistan's listing and whether the country has taken any action to combat terror financing. 

FATF's Asia-Pacific Group (APG) which met in China in mid-May was not impressed by Pakistan's action on terror financing.

Pakistan was put on the grey list last year which means the country comes under financial jurisdiction with ''structural deficiencies'' in anti-money laundering (AML) and combating the financing of terrorism (CFT) or simply-- supports financing of terror.

In June 2018, Pakistan had made a high-level political commitment to work with the FATF and Asia Pacific group to strengthen its AML/CFT regime and to address its strategic counter- terrorist financing-related deficiencies. 

Being in FATF’s grey list, it has caused a loss of $10 billion to Islamabad and if Islamabad fails to take any concrete action on terror, it might be put on the blacklist.

The FATF in its February meet had come hard on Pakistan saying it has not demonstrated a proper understanding of the Terror Financing risks posed by "Da’esh, AQ, JuD, FiF, LeT, JeM, HQN, and persons affiliated with the Taliban."

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FATF which looks into money laundering and terrorism financing will meet from June 16 to 21 in Orlando, Florida.