Lists are nothing new. For years, they have been used to enumerate one thing or the other. All esteemed publications use them. Fortune, Time, Forbes – you name it. Recently, there have been two lists that are the talk of the town. The FATF list and the Entity list! Being on the FATF grey list […]
FATF
Activity on FATF front
The Asia-Pacific Joint Group – a regional affiliate of the Financial Action Task Force – is going to take up the case of Pakistan today in China where a 10-member Pakistani delegation will apprise the meeting about Islamabad’s efforts to stop money laundering and financing of terrorism. Pakistan has taken actions against proscribed organisations and […]
Economics and Hybrid warfare: economic sanctions as a tool to pressurize the state
Defending against hybrid warfare requires certainty of financial resources. Unfortunately, Pakistan’s weak economic position and lack of fiscal space to expand security-related budget has constrained the country’s ability to give a more proactive response to hybrid warfare. Pakistan faces various forms of economic threats from its neighbours which need to be carefully studied. For example, […]
FATF action plan implementation urgently requires a ‘coordinator’
Pakistan’s compliance evaluation by the Asia Pacific Group (APG), a regional body of the global Financial Action Task Force (FATF), is only 10 days away. The government has reportedly prepared a list of actions in response to the 27-point FATF action plan. The official document prepared for the APG review presumably lists official takeover of […]
On several previous occasions, calculated leaks were made to the Indian media about the proceedings of FATF: FO
The statement by Indian Finance Minister Arun Jaitley that New Delhi desired Financial Action Task Force (FATF) to place Pakistan’s name in its blacklist. On Friday the government of Pakistan showed its “deep concern” over this statement. Jaitley justified the statement by saying that Pakistan showed the global illicit financing watchdog was being “politicised” by […]
Terrorists attacking Pakistan are our enemies: US
Declaring terrorists attacking Pakistan as its enemies, the United States on Tuesday said it does not have the ‘evidence’ suggesting that India is using the Afghan soil to perpetrate terrorism in Pakistan, and that it had no information regarding the Pakistan Army’s latest allegations that Afghan and Indian secret agencies were funding the Pashtun Tahafuz […]
Getting out of the FATF grey list would help stabilize Pakistan’s economy
According to the Josh, the FATF is an independent intergovernmental body that develops and promotes policies to protect the Global Financial System against terror funding and Money Laundering activities. FATF has two types of lists one is Black list and other is Grey list. Those countries which are not cooperating in taking measures against money […]
$6-8bn IMF bailout deal ‘almost done’: Pakistan
Finance Minister Asad Umer Monday revealed that the bailout package ‘agreed in principle’ with the International Monetary Fund (IMF) will be around $6-8 billion. Briefing the National Assembly Standing Committee on Finance, Revenue and Economic Affairs, Asad Umer said the IMF has finalised a bailout package for Pakistan during talks between the two sides at […]
Govt culls reports about federal cabinet reshuffle
Federal Minster for Information Fawad Chaudhry Monday strongly refuted the rumours related to change in portfolios of some cabinet members. Talking to media here, the minister said portfolio of no federal minister is being changed and all news regarding any such changes is concocted. He asked the media to verify the facts before releasing any […]
FATF asks Pakistan to document all gold purchases in country
The Financial Action Task Force (FATF) has reportedly handed over to Pakistan a new set of recommendations to boost its fight against financial crimes in the country, especially the terror financing. Pakistan is set to submit in the coming days its compliance report to the FATF on the action plan outlined during the last meeting […]