NEW DELHI: Pakistan failed to escape the Paris-based terror financing watchdog Financial Action Task Force (FATF)’s glare as it decided to keep the country in its Grey List till February 2020, according to reports.
While India pressed FATF to put Pakistan on its blacklist, the global body directed Islamabad to take measures for a complete elimination of terror financing and money laundering.
The FATF reviewed the measures already taken by Pakistan in its meeting on Tuesday and a formal announcement is likely on Friday - the last day of FATF’s ongoing session. The four-month window will test Islamabad’s resolve to walk the talk, reports said.
According to a media report, in a meeting in Paris on Tuesday, the FATF reviewed the measures that Pakistan has already taken to control money laundering and terror financing. The Paris-based task force has urged Pakistan to take extra measures for the complete elimination of terror financing, it quoted Aaj TV.
The FATF will take a final decision on Pakistan's position on February 2020. However, Pakistan's Finance Ministry spokesperson Omar Hameed Khan rejected the reports of the country remaining in the Grey List, saying "it is not true and nothing before October 18 (can be confirmed)".
According to another media report, the FATF has decided to give respite of four months to Pakistan to help her implement remaining recommendations of the task force.
Earlier at the FATF meeting in Paris, Pakistan's Minister for Economic Affairs Hammad Azhar had explained his country's positive performance in 20 of the 27 parameters to check terror financing. Islamabad is obligated to report its performance to the group every three months.
The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.
(With inputs from PTI)