Pakistan '1 Step Away' from Exiting Watchdog FATF's 'Grey List' : Sources [Post#575]

[cricketjoshila]

Seems like Pakistan is not going to be on the blacklist as it has the required support of 3 countries China, Turkey and Malaysia, neither of which are going to change their minds.

The question is whether it can get out of the "grey list"? Not sure what the mechanism is for that.

The US is the only country in the world with enough power to by itself impose crippling financial and other sanctions. From the statement "“We made it clear to the US and India that we cannot do it" it seems it may have lobbied for Pakistan to be put on the blacklist. I don't however think the US will take unilateral action against Pakistan unless things go really south in Afghanistan and Trump is re-elected.

Maybe this issue has reached a stalemate where Pakistan won't be put on the blacklist, but it won't be able to exit the grey list either.

15 votes needed to get out of the grey list. Thats will not be easy.

 

[sweep_shot]

WASHINGTON: The Finan*cial Action Task Force (FATF) urged all member states on Wednesday to criminalise financing of terror-related travels.

The FATF guidelines, issued on Wednesday, include an explicit instruction to “criminalise the financing of travel for the purpose of the perpetration, planning, preparation of or participation in, terrorist acts, or providing or receiving terrorist training”.

The instructions also urged member states to identify and take measures in relation to any countries with strategic deficiencies for terrorist financing.

“Global safeguards to combat terrorist financing are only as strong as the jurisdiction with the weakest measures,” the statement added, noting that terrorist financiers can “circumvent weak anti-money laundering and counter-terrorism financing (AML/CTF) controls to successfully move assets to finance terrorism through the financial system”.

The FATF guidelines, however, did not name any country.

Instead, the agency urged all jurisdictions to work closely with the FATF regional bodies, and other key partners such as the UN.

It reminded member states that a key objective of the FATF is to continually identify jurisdictions with significant weaknesses in their AML/CFT regimes, and to work with them to address those weaknesses.

The Paris-based monitoring agency has placed Pakistan on its watchlist of high-risk jurisdictions, also known as the grey list. So far, there are only two countries — Iran and North Korea — on the FATF list of non-cooperative jurisdictions, also known as the blacklist.

Last month, the global finance watchdog kept Pakistan off its blacklist but warned Islamabad it only had until February to improve or face international action. The agency pointed out that Pakistan had failed to complete its action plan to combat terrorism financing first by a January deadline, then a May deadline and now October.

Last week, China, which now heads FATF, accused some member countries of pursuing a political agenda against Pakistan.

“China stood with Pakistan and blocked any attempt to place it on the blacklist,” Yao Wen, Deputy Director General for Policy Planning of Asian Affairs, told journalists in Beijing. “We have made it clear to the United States and India that this goes beyond the purpose of FATF.”

Combating terrorist financing has been a priority for the FATF since 2001. However, in 2015, the scope and nature of terrorist threats globally intensified considerably, with terrorist attacks in many cities across the world, and the terrorist threat posed by the so-called Islamic State (Daesh) and by Al Qaeda and their affiliated terrorist organisations.

FATF reminded member states that terrorists and terrorist groups continued to raise money with use of various means, and therefore, “countries must make it a priority to understand the risks they face from terrorist financing and develop policy responses to all aspects of it”.

The statement also underlined the changing nature of the threat, noting, “Terrorism threats have continued to evolve, from large terrorist organisations, to returning terrorist fighters and right-wing extremists.”

FATF pointed out that “despite its loss of territory, IS continues to have access to resources enabling it to carry out or inspire terrorist attacks around the world. Al Qaeda and affiliate terrorist organisations continue to pose threats. Funds flow cross-border to providing resources for designated organisations”.

The statement regretted that many countries had not yet implemented the FATF Standards effectively and did not understand the nature of terrorist financing risks they faced, nor had effective means to combat them.

FATF urged member states to improve and update the understanding of terrorist financing risks, in light of the dynamic way in which the risks are changing in different regions around the world.

“The understanding of risk is a key part of jurisdictions’ counter-terrorist financing regime, as understanding the risks allows countries to allocate resources to detect or disrupt terrorist financing,” it added.

Source: https://www.dawn.com/news/1515392/fatf-seeks-to-criminalise-financing-terror-travels.

 

[sweep_shot]

ISLAMABAD: The European Union has offered technical assistance to Pakistan for implementation of the Financial Action Task Force (FATF) action plan by the country.

A joint press release issued at the conclusion of the tenth session of the European Union-Pakistan Joint Commission in Brussels on Friday says the two sides emphasised the importance of the implementation of FATF action plan by Pakistan. The Pakistan side at the meeting appreciated the EU’s offer of technical assistance.

Implementation of ‘GSP-Plus’, issues hampering trade and investment, and improving the business climate remained focus of the discussion during the meeting. On development cooperation, the EU and Pakistan appreciated the encouraging progress of ongoing activities and exchanged views on priorities concerning cooperation beyond 2020.

The plenary of the joint commission was preceded by meetings of sub-groups on trade, development cooperation, democracy, governance, rule of law and human rights on Nov 13-14.

During the sub-group on democracy, governance, rule of law and human rights, the two sides reaffirmed their strong support for democratic institutions, rule of law, good governance, the promotion and protection of human rights, labour rights, and fundamental freedoms, according to the press release.

Pakistan briefed the EU side on the recent developments in the region and highlighted its concerns regarding human rights and the humanitarian situation in India-held Jammu and Kashmir.

The joint commission provided an opportunity to both sides to exchange views on areas of cooperation. The two sides appreciated the signing of the EU-Pakistan Strategic Engagement Plan (SEP) in June 2019 and expressed commitment for its early and complete implementation including the establishment of a Security Dialogue, working towards a comprehensive dialogue on migration and mobility, and further expanding relations in the areas of connectivity, climate change and energy, education and culture, and science and technology.

The parties discussed different aspects of migration management, highlighted the importance of full and effective implementation of the EU-Pakistan Readmission Agreement (EUPRA), underlining that the Readmission Case Management System (RCMS) was of high importance in this regard.

The EU recognised the challenges faced by Pakistan in handling the most protracted refugee situation, and assured the country of continuation of its cooperation and assistance, working towards durable solutions for Afghan refugees and their host communities in the region, including the promotion of voluntary, safe, and dignified return to Afghanistan.

The two sides also agreed to pay increased attention to the humanitarian response to natural disasters.

The joint commission was co-chaired on the EU side by Managing Director for Asia and the Pacific in the European External Action Service Gunnar Wiegand and on the Pakistan side, by Economic Affairs Division Secretary Noor Ahmed. Representatives of the European Commission, observers from EU member states, as well as from Pakistan ministries of foreign affairs, commerce, economic affairs division and human rights attended the meeting.

The next session of the joint commission will be held in Islamabad in 2020. The two sides undertook to hold the next political dialogue in Islamabad that would contribute towards the EU-Pakistan strategic dialogue at high representative and foreign minister level at mutually agreed dates in Brussels.

Source: https://www.dawn.com/news/1517184/eu-offers-technical-assistance-on-fatf-action-plan.

 

[sweep_shot]

ISLAMABAD: The government has decided to bring all unregulated sectors of the national economy under an interim regulatory framework to address at the earliest outstanding reservations on money laundering and terror financing (ML and TF) of the international financial watchdog — Financial Action Task Force (FATF).

The decision was taken by the National FATF Coordination Committee (NFCC) at its recent meeting. Prime Minister Imran Khan had set up the high-powered 12-member NFCC in the first week of October to ensure execution of all FATF-related tasks till Dec 1.

A senior government official told Dawn that the NFCC has decided to appoint the Federal Board of Revenue (FBR) as an interim regulator for the real estate sector in view of disagreement among key stakeholders over creation of proposed Real Estate Regulatory Authority. The FBR will also act as a regulator for jewellers, jewels, diamonds and precious stones because there was no regulator at present for the sector.

Likewise, the NFCC has recommended the role of regulator for lawyers, legal advisers and law firms to the Ministry of Law and Justice. It authorised the Audit Oversight Board to act as a regulator for chartered accountants, accountants, financial consultants and all those relating to accounts groups.

The Financial Monitoring Unit (FMU) has been assigned the job of regulating financial transactions through Pakistan Post and National Savings for the time being.

Officials said that the decision to have above interim regulatory arrangements had been taken on the basis of feedback and advice received from a recent plenary of the FATF in Paris that decided to keep Pakistan in the grey list until February next year. The participants of the Paris Plenary had expressed concerns that the above-mentioned unregulated sectors involved great risk potential to be used as sources of ML and TF.

FATF members are reported to have expressed displeasure that so critical areas in Pakistan were operating without regulators and demanded to have proper regulatory framework for these sectors for national risk mitigation.

Led by Minister for Economic Affairs Division Hammad Azhar, the NFCC comprises federal secretaries of finance, foreign affairs and interior besides heads of all the institutions and regulators concerned with money laundering and terror financing.

They include the State Bank of Pakistan’s (SBP) governor, Securities and Exchange Commission of Pakistan’s (SECP) chairman, FIA’s director general, member (Customs) of the FBR and the FMU’s director general. The committee also has three senior officials from the military’s General Headquarters.

The NFCC meeting held about a week ago noted that the country’s real estate sector had seen concentration of undocumented flow of money. There had been a lot of discussions among the federal and provincial authorities over creation and coordination of real estate regulators but the process was found time consuming given overlapping and yet independent powers of various stakeholders in the constitution and relevant laws.

It was, therefore, found feasible until the resolution of legal challenges to empower the FBR to act as a regulator for the real estate sector. The FBR was considered well placed to act as a regulator given its engagements with key real estate players in the past as part of documentation and taxation purposes in the first phase. Documented and undocumented annual business in the real estate sector is estimated to be around Rs500 billion. The decision would also help the FBR to better achieve its tax related objectives, sources said.

They said senior officials of Pakistan Post, courier companies and national saving schemes would coordinate with the FMU during the interim period to address emergent FATF targets. The work has also been started to put in place proper regulatory framework under the Ministry of Postal Services, finance ministry, the SBP and SECP for which Dec 31, 2019 has been set as deadline.

This framework after completion would be shared with the International Country Risk Guide for review in January 2020.

The official said Pakistan would also submit an updated progress report along with its strategy and measures against anti-money laundering and counter financing terror (AML/CFT) to the FATF and Asia Pacific Joint Working Group by Dec 7. By Dec 17, the joint working group would seek further clarifications (if any) and Pakistan would be required to file a conclusive report, based on joint working group questions, by Jan 7.

Pakistani authorities expect the 39-member joint working group to review the country’s case by the third week of January. They hope to be able to remove reservations of 8-9 key countries and report significant progress on its target action plans to the FATF that would finally decide in its next plenary due in second half of February about the future course of action — removal, extension or graduation from the grey list.

The Officials believe that Pakistan had completed action plan on about 22 items to a large extent and lagged behind on 4-5 targets. They advocate that if reviewed under normal circumstances, Pakistan could be given some more time to overcome remaining shortcomings. Some quarters in Islamabad suggest that Pakistan was unfortunately also being viewed from a political angle, otherwise, even Afghanistan was not in the FATF’s grey or blacklist.

“Pakistan faces greater challenges than many other countries because of its risk profile,” Mr Azhar had recently told a parliamentary panel. Some countries had been removed from the grey list after just 80 per cent compliance while Pakistan may be required to do more, he had said.

Source: https://www.dawn.com/news/1518686/informal-economy-to-be-regulated-for-meeting-fatf-concern.

 

[Abdullah719]

Pakistan cancels licenses of over 25,000 NPOs to meet FATF conditions

Spoiler

ISLAMABAD: As it needed to submit another progress report by February 2020 for next review by the Financial Action Task Force (FATF), Pakistan has taken various steps so far to address the tasks especially related to terror financing and money laundering. It has cancelled cancels licenses of over 25,000 Non Profit Organizations (NPOs) besides categorizing 140 NPOs as high-risk under further scrutiny.

According to available documents, the govenrment has speeded up the process of cash seizure by 220% while taking number of steps at ports and entry/exit point of the country. Besides, the process/cases of investigation into suspected terror financing have also been jumped by 300%.

As per the official documents, over 170 convictions were made in the terror financing category, which, according to officials, is an increase of over 300%. Besides, the concerned authorities have also seized more than 1000 properties and assets of listed individuals and entities. Around 150 properties have been seized for investigation related to suspected terror financing.

As per FATF assessment, Pakistan has largely addressed five of 27 action items and urged Pakistan to swiftly complete full action plan by February 2020. The Asia Pacific joint Group in its analysis indicated that only 5 of the 27 action items have been assessed as largely completed.

According to documents released in February 2018, FATF had decided to list Pakistan on joint nomination of USA, UK, France and Germany in the wake of weaknesses of supervision and enforcement of Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) by financial institutions, including money service businesses, illicit cross border transportation of currency, inadequate terrorist financing investigations and prosecutions and lack of financial sanctions and weaknesses in coordination between provincial and federal LEAs to identify and freeze properties related to UNSCR-1267 and 1373.

This decision was confirmed by FATF in June 2018 when Pakistan agreed to a time bound Action Plan and provided high level political commitment to FATF on implementation of Action Plan.

As per the documents since June this year, there has been unprecedented political commitment and support at the highest levels towards implementation of FATF Action Plan. Solid measures have been put in place to coordinate and improve legal, supervisory and law enforcement coordination mechanisms, policies and capacities and increase resources. This strategic reorientation has resulted in significant operational results particularly in relation to terrorist financing.

The primary focus had been towards terror financing (TF) Risk Assessment, update of National Risk Assessment, understanding of TF and transnational risks at all levels, effective interagency coordination structures, review of Risk Based Supervisory Polices, establishing dissuasive Sanctions Regime, actions by LEAs against Entities of Concern (EOC), mapping and supervision of NPOs, effective enforcement actions by LEAs and our supervisors, investigations leading towards prosecution and convictions into assets of EOC taken over and development of effective management plan for managing the assets.

Since June 2018, Pakistan has submitted four progress report to APJ Group. The last progress report was submitted in August 2019 in the face to face meeting with the APJ Group in September. The APJ presented its analysis report on Pakistan’s progress report in International Cooperation Review Group (ICRG) meeting held on October 15, 2019. After detailed discussion in the 1CRG meeting on Pakistan’s progress report, the ICRG decided to maintain the status quo for Pakistan. The FATF in its plenary also reaffirmed ICRG decision and maintained same status for Pakistan.

According to officials, Pakistan is likely to remain on the FATF grey list for a protracted period, as it may be handed over yet another action plan for implementation for one to three years on the basis of a recently-approved Mutual Evaluation Report (MER). As a result of the MER carried out by the APJ Group, Pakistan was under observation till October 2020.

The FATF plenary met last month and gave Pakistan four more months to completely implement the 27-point Action Plan after Islamabad was found fully compliant only on five points. The FATF Plenary will again review Pakistan’s case in February next year.

https://profit.pakistantoday.com.pk...s-of-over-25000-npos-to-meet-fatf-conditions/

 

[Abdullah719]

Saudi Arabia, UAE likely to back Pakistan at FATF moot

Pakistan has sent its last progress report along with supplementary documents to the Financial Action Task Force (FATF), hoping that with the backing of Saudi Arabia and UAE in the next review it would avoid being blacklisted by the global finance watchdog and also be taken off its grey list.

At the FATF Asia-Pacific Group meeting starting from January 21 in Beijing, Pakistan will inform the global watchdog about amendments to its law to punish individuals involved in terror financing.

The review on the implementation of the FATF Action Plan will take place in Paris next month, where Pakistan will try to have its name removed from the grey list of the global body.

Finance Ministry officials told The Express Tribune that two more countries were likely to support Pakistan this time.

Besides Turkey, Malaysia and China, Saudi Arabia and the UAE are also expected to back Pakistan’s removal from the list.

In its report, the government has responded to the questionnaire received from the FATF Asia-Pacific Group and also informed the global body about the progress on its recommendations.

The FATF has been informed that Pakistan had made progress in amending its Legal Mutual Assistance law to become a member of both the Organisation for Economic Cooperation and Development and the Egmont Group.

The standing committee on finance has also approved amendments to law for curbing money laundering and terror financing. As per the amendments, a person convicted on charges of money laundering would serve at least one year in prison and pay a minimum fine of Rs5 million.

In line with the FATF Asia-Pacific Group’s recommendations, a person found guilty of illegally transferring money to Saudi Arabia will be sentenced to 10 years in prison and would be slapped with a fine of five million riyals.

The fine for laundering money to Singapore will be $0.5 million.

The draft of the National Savings Scheme Rules 2019 has been prepared. The rules will apply to all offices and individuals responsible for the issuance, management, marketing, registration, replacement, sale and discharge of instruments issued by and the accounts opened at and maintained with the National Savings Centres, the Pakistan Post and any other office designated as offices of issue.

The rules will ensure that officials undertake due diligence of National Savings Schemes customers to curb money laundering and terror financing.

Mansoor Siddiqui, the director general of the Financial Monitoring Unit, recently told a parliamentary panel that Pakistan hoped to win a “largely-compliant” rating from the FATF on the implementation of its 27 action points, which might help the government get more time from the watchdog for full compliance.

The global finance watchdog had placed Pakistan on its grey list in June 2018.

https://tribune.com.pk/story/2133856/1-saudi-arabia-uae-likely-back-pakistan-fatf-moot/

 

[Bewal Express]

Saudi Arabia, UAE likely to back Pakistan at FATF moot

Pakistan has sent its last progress report along with supplementary documents to the Financial Action Task Force (FATF), hoping that with the backing of Saudi Arabia and UAE in the next review it would avoid being blacklisted by the global finance watchdog and also be taken off its grey list.

At the FATF Asia-Pacific Group meeting starting from January 21 in Beijing, Pakistan will inform the global watchdog about amendments to its law to punish individuals involved in terror financing.

The review on the implementation of the FATF Action Plan will take place in Paris next month, where Pakistan will try to have its name removed from the grey list of the global body.

Finance Ministry officials told The Express Tribune that two more countries were likely to support Pakistan this time.

Besides Turkey, Malaysia and China, Saudi Arabia and the UAE are also expected to back Pakistan’s removal from the list.

In its report, the government has responded to the questionnaire received from the FATF Asia-Pacific Group and also informed the global body about the progress on its recommendations.

The FATF has been informed that Pakistan had made progress in amending its Legal Mutual Assistance law to become a member of both the Organisation for Economic Cooperation and Development and the Egmont Group.

The standing committee on finance has also approved amendments to law for curbing money laundering and terror financing. As per the amendments, a person convicted on charges of money laundering would serve at least one year in prison and pay a minimum fine of Rs5 million.

In line with the FATF Asia-Pacific Group’s recommendations, a person found guilty of illegally transferring money to Saudi Arabia will be sentenced to 10 years in prison and would be slapped with a fine of five million riyals.

The fine for laundering money to Singapore will be $0.5 million.

The draft of the National Savings Scheme Rules 2019 has been prepared. The rules will apply to all offices and individuals responsible for the issuance, management, marketing, registration, replacement, sale and discharge of instruments issued by and the accounts opened at and maintained with the National Savings Centres, the Pakistan Post and any other office designated as offices of issue.

The rules will ensure that officials undertake due diligence of National Savings Schemes customers to curb money laundering and terror financing.

Mansoor Siddiqui, the director general of the Financial Monitoring Unit, recently told a parliamentary panel that Pakistan hoped to win a “largely-compliant” rating from the FATF on the implementation of its 27 action points, which might help the government get more time from the watchdog for full compliance.

The global finance watchdog had placed Pakistan on its grey list in June 2018.

https://tribune.com.pk/story/2133856/1-saudi-arabia-uae-likely-back-pakistan-fatf-moot/

Saudi and UAE maybe helping us here but the enemy within are not. The Nooras and the PPP opposed the legislation to meet the criteria.



"leader of the Pakistan Peoples Party (PPP) Syed Naveed Qamar termed the bill against the fundamental rights of the citizens of Pakistan, claiming that after passage of the bill, the government would be able to seek information from foreign countries". I wonder what they are worried about

ttps://www.dawn.com/news/1526745/na-passes-crucial-bill-to-meet-fatf-requirement

 

[AdamM97]

Saudi Arabia, UAE likely to back Pakistan at FATF moot

Pakistan has sent its last progress report along with supplementary documents to the Financial Action Task Force (FATF), hoping that with the backing of Saudi Arabia and UAE in the next review it would avoid being blacklisted by the global finance watchdog and also be taken off its grey list.

At the FATF Asia-Pacific Group meeting starting from January 21 in Beijing, Pakistan will inform the global watchdog about amendments to its law to punish individuals involved in terror financing.

The review on the implementation of the FATF Action Plan will take place in Paris next month, where Pakistan will try to have its name removed from the grey list of the global body.

Finance Ministry officials told The Express Tribune that two more countries were likely to support Pakistan this time.

Besides Turkey, Malaysia and China, Saudi Arabia and the UAE are also expected to back Pakistan’s removal from the list.

In its report, the government has responded to the questionnaire received from the FATF Asia-Pacific Group and also informed the global body about the progress on its recommendations.

The FATF has been informed that Pakistan had made progress in amending its Legal Mutual Assistance law to become a member of both the Organisation for Economic Cooperation and Development and the Egmont Group.

The standing committee on finance has also approved amendments to law for curbing money laundering and terror financing. As per the amendments, a person convicted on charges of money laundering would serve at least one year in prison and pay a minimum fine of Rs5 million.

In line with the FATF Asia-Pacific Group’s recommendations, a person found guilty of illegally transferring money to Saudi Arabia will be sentenced to 10 years in prison and would be slapped with a fine of five million riyals.

The fine for laundering money to Singapore will be $0.5 million.

The draft of the National Savings Scheme Rules 2019 has been prepared. The rules will apply to all offices and individuals responsible for the issuance, management, marketing, registration, replacement, sale and discharge of instruments issued by and the accounts opened at and maintained with the National Savings Centres, the Pakistan Post and any other office designated as offices of issue.

The rules will ensure that officials undertake due diligence of National Savings Schemes customers to curb money laundering and terror financing.

Mansoor Siddiqui, the director general of the Financial Monitoring Unit, recently told a parliamentary panel that Pakistan hoped to win a “largely-compliant” rating from the FATF on the implementation of its 27 action points, which might help the government get more time from the watchdog for full compliance.

The global finance watchdog had placed Pakistan on its grey list in June 2018.

https://tribune.com.pk/story/2133856/1-saudi-arabia-uae-likely-back-pakistan-fatf-moot/

Not attending the Kuala Lumpur Summit might have been a good call if Saudi and UAE back Pakistan in FATF.

Nevertheless, I hope we can still develop better relations with Turkey and Malaysia in the future.

 

[Abdullah719]

Pakistan wants US to get it off FATF grey list

Spoiler

WASHINGTON: Pakistan has urged the United States to get it off the grey list of the Financial Action Task Force (FATF), which monitors global money laundering and terror financing.

Foreign Minister Shah Mehmood Qureshi said at a news briefing here on Friday night that Pakistan hoped the US would back its efforts to get it off the list at the FATF’s Beijing meeting next month.

“This meeting is very important for us as it leads to a plenary meeting in Paris in April where the world body will decide whether Pakistan remains on the list or is taken off,” he said.

The FATF has placed Pakistan on a list of countries that have failed to eradicate money laundering and where terrorists can still raise funds for their activities. If not removed off the list by April, Pakistan may move to a blacklist of countries that face severe economic sanctions, such as Iran.

Mr Qureshi concluded his three-day visit to the United States on Friday after a series of meetings with key US lawmakers and officials, including Secretary of State Mike Pompeo and National Security Adviser Robert O’Brien. The foreign minister spent the week touring Iran, Saudi Arabia and the US on a diplomatic mission meant to defuse tensions between Washington and Tehran.

At his news briefing, Mr Qureshi also urged the US to review its travel advisories for Pakistan and encourage investments in the country. US travel advisories still present Pakistan as a country Americans should avoid travelling because of terrorism threats.

“Reviewing the advisory can boost tourism in Pakistan,” he said while reminding Washington that the United Nations had recently included Pakistan among 10 top tourism destinations. The United Nations and several European countries also had once again declared Islamabad as a safe city for diplomats and their families, he said while asking Washington to do the same.

Asked why the FATF’s Beijing meeting was important, Mr Qureshi said that decisions taken in China’s capital would also impact the Force’s Paris plenary, which would decide whether Pakistan stayed in or was taken off the gray list.

“We want our American friends to tell us what’s their policy,” he said. “You share with us what measures you have taken or intend to.”

The minister acknowledged that removal from the FATF list could not happen overnight, but said that the US could enhance its engagements with Pakistan while waiting for the removal.

“Please consider how you can help improve Pakistan’s exports, increase our forex reserves, we need your guidance there too,” he said. “We also need your investment in the tourism industry.”

Mr Qureshi noted that in his meetings with Prime Minister Imran Khan last year, US President Donald Trump had said that he wanted to see Pakistan off the FATF gray list. “So, we expect US officials to work for it now.”

The foreign minister said Islamabad had taken several concrete steps to meet FATF demands and the time had come for the US to fulfil President Trump’s pledge.

Mr Qureshi recalled that when Secretary Pompeo came to Islamabad in 2018, “I told him that we are interested in resetting our bilateral relationship. Mr Pompeo said this could only be routed through Kabul.”

And “today, I told him we fulfilled our promise. The Taliban came to the table. Then you said the delegation should be authoritative and powerful, we did that,” he said.

“Then we were told the insurgents were holding two Western hostages. If they are released, it will create goodwill and break the stalemate. Our security establishment held 72 meetings and you saw two hostages reach home safely.”

When Pakistan got that done, “they said the Taliban must give this understanding that they will stop blood-letting and hostilities. This was not an easy task, but this too has happened. The Taliban are willing to end all hostilities,” Mr Qureshi said.

“So, now my message for them is: this is a golden chance.

There’s no military solution to the Afghan conflict. All regional powers, including Iran, are supporting it. So, avail it and sign an agreement. That agreement will lead to an intra-Afghan dialogue. They should follow this pattern,” he said.

He reminded Washington that “Pakistan fulfilled your expectations. Now’ we too had some expectations, what have you done?”

APP adds: Later, the foreign affairs minister arrived in Doha on an important visit.

Senior officers of the Qatari foreign ministry, Pakistan’s ambassador in Qatar Syed Ahsan Raza Shah and senior officials of the embassy received the foreign minister at the airport.

During the visit, the foreign minister would call on his Qatari counterpart Sheikh Mohammed bin Abdulrahman Al Thani and discuss bilateral and regional matters with him.

https://www.dawn.com/news/1529245/pakistan-wants-us-to-get-it-off-fatf-grey-list

 

[Abdullah719]

Islamabad almost ready to get off FATF grey list

Spoiler

As Pakistan and Asia-Pacific Joint Group of the Financial Action Task Force’s meeting ends in Beijing, Islamabad hopes to acquire the Unites States’ cooperation in next month’s plenary aimed at avoiding any further adverse action by the global body.

The face-to-face meeting between Pakistan and the FATF took place at a time when the US Assistant Secretary of State Alice Wells was in Islamabad with a message of cooperation.

In her off the record discussions, she tried to dispel the impression that the US was changing the goalposts of the FATF.
Ambassador Wells assured that Pakistan’s case would be purely treated on technical grounds but said that the country still had to make efforts to ensure convictions in terror-financing cases.

Probably, this was the reason that Pakistani authorities found the US functionaries less hostile during the joint group meetings, which took place in Beijing from January 21 to 22.

The government went to attend the face-to-face meetings with a claim that it has largely addressed 22 points related to curbing money laundering and terror financing.

In February 2018, the FATF had found serious deficiencies in the country’s anti-money laundering and combating financing of terrorism regimes and gave Pakistan a 27-point action plan to exit the grey list.

In October last year it gave another warning to Islamabad to show full compliance by February 2020.

Now, the FATF Plenary would take place in Paris next month that will take a decision about Pakistan’s status on the grey list.

Pakistan had sought the global body’s support to declare at least 22 points largely addressed during the review meetings. In October, Pakistan was found largely compliant against five targets, which the authorities now say have reached 17.

But after Beijing meetings, Pakistani authorities have slightly lowered their expectations and were anticipating that the FATF might give a positive judgement in case of around 18 action points. They apprehended that the FATF might still declare two action points non-compliant as against Islamabad’s claim that all the actions were either fully, largely or partially compliant.

They said that in case the FATF Plenary decides to declare two points non-compliant, it may further extend Pakistan on the grey list for three to six months.

The action points related to cash couriers and convictions in terror-financing cases could be declared non-compliant, according to the Pakistani authorities.

https://tribune.com.pk/story/2143388/1-islamabad-almost-ready-get-off-fatf-grey-list-2/

 

[Bewal Express]

Islamabad almost ready to get off FATF grey list

Spoiler

As Pakistan and Asia-Pacific Joint Group of the Financial Action Task Force’s meeting ends in Beijing, Islamabad hopes to acquire the Unites States’ cooperation in next month’s plenary aimed at avoiding any further adverse action by the global body.

The face-to-face meeting between Pakistan and the FATF took place at a time when the US Assistant Secretary of State Alice Wells was in Islamabad with a message of cooperation.

In her off the record discussions, she tried to dispel the impression that the US was changing the goalposts of the FATF.
Ambassador Wells assured that Pakistan’s case would be purely treated on technical grounds but said that the country still had to make efforts to ensure convictions in terror-financing cases.

Probably, this was the reason that Pakistani authorities found the US functionaries less hostile during the joint group meetings, which took place in Beijing from January 21 to 22.

The government went to attend the face-to-face meetings with a claim that it has largely addressed 22 points related to curbing money laundering and terror financing.

In February 2018, the FATF had found serious deficiencies in the country’s anti-money laundering and combating financing of terrorism regimes and gave Pakistan a 27-point action plan to exit the grey list.

In October last year it gave another warning to Islamabad to show full compliance by February 2020.

Now, the FATF Plenary would take place in Paris next month that will take a decision about Pakistan’s status on the grey list.

Pakistan had sought the global body’s support to declare at least 22 points largely addressed during the review meetings. In October, Pakistan was found largely compliant against five targets, which the authorities now say have reached 17.

But after Beijing meetings, Pakistani authorities have slightly lowered their expectations and were anticipating that the FATF might give a positive judgement in case of around 18 action points. They apprehended that the FATF might still declare two action points non-compliant as against Islamabad’s claim that all the actions were either fully, largely or partially compliant.

They said that in case the FATF Plenary decides to declare two points non-compliant, it may further extend Pakistan on the grey list for three to six months.

The action points related to cash couriers and convictions in terror-financing cases could be declared non-compliant, according to the Pakistani authorities.

https://tribune.com.pk/story/2143388/1-islamabad-almost-ready-get-off-fatf-grey-list-2/

Another huge problem the "competents" left for IK to solve.

 

[WebGuru]

Interestingly Indian press is also quoting an Indian official saying Pakistan can get out of FATF next month.
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Pakistan could be out of the 'Grey List' of international<br> terror-financing watchdog FATF next month due to active support of China and tactical support of some Western countries: Indian official.</p>— Press Trust of India (@PTI_News) <a href="https://twitter.com/PTI_News/status/1220418411144065024?ref_src=twsrc%5Etfw">January 23, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[WebGuru]

Another Indian news site reporting it now. Chances of getting blacklisted are very slim now and there is a chance Pakistan can actually get out of the blacklist. The importance of Pakistan in Geopolitics is just too much to ignore.

Changing equations in region help Pakistan get relief at FATF meet

At the meeting Wednesday, Pakistan defended the country’s compliance report on combating terror-financing networks. Diplomatic sources present at the meeting told The Indian Express: “It was a bit surprising the way US, UK, France, Germany, Australia, New Zealand and even Japan, all of them favoured Pakistan. There is a strong case against Pakistan, as has been since it was put on the grey list, but it was geopolitics at play…seems the changing geopolitical environment helped Pakistan.”

“The reasons given by western countries in Beijing were that ‘Pakistan has shown progress, it has provided so much data, its facts are in place and so on’, which helped Pakistan in a big way,” sources said.

https://indianexpress.com/article/p...-meet-6232408/lite/?__twitter_impression=true

 

[globalcitizen]

Good to know pakistan might be moving out of FATF.
So How is FATF affecting individuals in Pakistan? Is it difficult to get visa of other countries for example? Are there any other issues do enlighten

 

[cric_man]

Good to know pakistan might be moving out of FATF.
So How is FATF affecting individuals in Pakistan? Is it difficult to get visa of other countries for example? Are there any other issues do enlighten

The sooner we get of the FATF list the better. It is one of the stumbling block for the likes of PayPal, Amazon et al to set up shop in PK.

 

[WebGuru]

Good to know pakistan might be moving out of FATF.
So How is FATF affecting individuals in Pakistan? Is it difficult to get visa of other countries for example? Are there any other issues do enlighten

Nah visa is not there issue here. Being in Grey List is hurting our already fragile economy it's keeping investors away because they are afraid if Pakistan gets into black list they will lose big money.

 

[globalcitizen]

Nah visa is not there issue here. Being in Grey List is hurting our already fragile economy it's keeping investors away because they are afraid if Pakistan gets into black list they will lose big money.

Yes getting investors should be eased but will take some years to be normal. Good start though

 

[globalcitizen]

The sooner we get of the FATF list the better. It is one of the stumbling block for the likes of PayPal, Amazon et al to set up shop in PK.

One of criteria you get these tech companies are not just having a workforce. It should be a predominantly tech workforce. Is Pakistan having that many technologists graduating and available?

 

[WebGuru]

One of criteria you get these tech companies are not just having a workforce. It should be a predominantly tech workforce. Is Pakistan having that many technologists graduating and available?

Yes tech workforce is easily available in Pakistan. Pakistan is among top 5 countries in the world when it comes to freelancing and generating good amount of money from IT services and software exports.

 

[RedwoodOriginal]

It's fairly obvious that if the U.S wants us off the list we will be off it. No amount of lobbying or diplomacy by Indian officials will matter in such a case.

In reality, Pakistan only really needs the vote of the U.S because that also means a vote from UK, France, Germany, Australia and New Zealand.

Seeing how Pakistan has mostly delivered on Afghanistan it should be off the list in July, if not in February.

 

[WebGuru]

It's fairly obvious that if the U.S wants us off the list we will be off it. No amount of lobbying or diplomacy by Indian officials will matter in such a case.

In reality, Pakistan only really needs the vote of the U.S because that also means a vote from UK, France, Germany, Australia and New Zealand.

Seeing how Pakistan has mostly delivered on Afghanistan it should be off the list in July, if not in February.

All those small European nations in FATF also vote with the US.

 

[RedwoodOriginal]

All those small European nations in FATF also vote with the US.

Yes. I believe Pakistan needs 12 votes out of votes 39 to get off the grey-list. The votes of those countries along with China, Turkey, Malaysia, UAE and Saudi Arabia will make 11. So shouldn't be an issue getting 12.

 

[Bewal Express]

This will be a huge diplomatic victory for PK. How the hell did the crooked Nooras allow PK to get into this list?

 

[WebGuru]

This will be a huge diplomatic victory for PK. How the hell did the crooked Nooras allow PK to get into this list?

To be honest I am not expecting much from FATF in Feb even staying in Grey list will be a victory for Pakistan after all the propaganda from Indian media three months ago that Pakistan is put on some so called dark Grey list and will be black listed in Feb. IMHO now India is creating a hype so in case Pakistan stays in Grey list after Feb they will call it a diplomatic victory. I don't think USA and Co will be that quick to get Pakistan off the list but I hope I am proven wrong in this case.

 

[Bewal Express]

To be honest I am not expecting much from FATF in Feb even staying in Grey list will be a victory for Pakistan after all the propaganda from Indian media three months ago that Pakistan is put on some so called dark Grey list and will be black listed in Feb. IMHO now India is creating a hype so in case Pakistan stays in Grey list after Feb they will call it a diplomatic victory. I don't think USA and Co will be that quick to get Pakistan off the list but I hope I am proven wrong in this case.

I think this is a tool to blackmail PK but we need to use any tools in our hands to get out of it.

 

[RedwoodOriginal]

To be honest I am not expecting much from FATF in Feb even staying in Grey list will be a victory for Pakistan after all the propaganda from Indian media three months ago that Pakistan is put on some so called dark Grey list and will be black listed in Feb. IMHO now India is creating a hype so in case Pakistan stays in Grey list after Feb they will call it a diplomatic victory. I don't think USA and Co will be that quick to get Pakistan off the list but I hope I am proven wrong in this case.

That would accomplish nothing. Pakistan will still lose billions every year, economically and it's not as if Pakistan was ever going to go on the blacklist anyway. It was just a threat to make Pakistan comply. There are only two countries on the blacklist: North Korea and Iran. Getting off the grey-list is what we have been trying to do all long.

 

[RedwoodOriginal]

I think this is a tool to blackmail PK but we need to use any tools in our hands to get out of it.

Ultimately, it's our fault. We have given them something to blackmail us with. If we had some kind of stable economy and if we hadn't allowed all these groups to operate in our country with impunity we wouldn't even be in this mess. Hopefully, it ends up being a valuable lesson moving forward.

 

[WebGuru]

I think this is a tool to blackmail PK but we need to use any tools in our hands to get out of it.

That would accomplish nothing. Pakistan will still lose billions every year, economically and it's not as if Pakistan was ever going to go on the blacklist anyway. It was just a threat to make Pakistan comply. There are only two countries on the blacklist: North Korea and Iran. Getting off the grey-list is what we have been trying to do all long.

I agree it's a tool to blackmail countries and there was hardly any chance of Pakistan getting blacklisted but the perception created in the media was really hurting our image at the economic front.

 

[RedwoodOriginal]

I agree it's a tool to blackmail countries and there was hardly any chance of Pakistan getting blacklisted but the perception created in the media was really hurting our image at the economic front.

I don't think the media fully understands this whole thing. They have been following along the lines of the Indian media which has been doing similarly sensationalist reporting.

 

[Abdullah719]

Pakistan has made significant progress to get off FATF grey list: SBP chief

Spoiler

KARACHI: The State Bank said on Tuesday that Pakistan had made significant progress to get off the grey list of the Financial Action Task Force (FATF) while the central bank had been making all-out efforts to curb money laundering and terror financing.

Announcing the monetary policy with unchanged interest rate of 13.25 per cent, State Bank of Pakistan (SBP) Governor Dr Reza Baqir said that the last two reviews in May and September showed that Pakistan had made significant progress in most of the 27 points raised by the FATF. However, he said, the FATF was the final authority to decide if the progress was enough to pull Pakistan out of the grey list, adding that the country would have to continue making progress in this direction.

The State Bank, he said, had been constantly playing a role in curbing money laundering and terror financing which was in favour of the country.

Speaking about inflation and its impact on the interest rate, Dr Baqir said the SBP had decided to keep the rate unchanged at 13.25pc since inflation was expected to remain 11-12pc during the current fiscal year (FY20).

He expressed the confidence that the inflation target of 5-7pc would be achieved in the medium term — over the next six to eight months.

“It is a transitional period for inflation and short supply shocks will be over soon. The real interest rate is in the range of one to two per cent which is much lower than many economies [of the world] and this is a positive sign,” he claimed.

The SBP governor said GDP growth for the current fiscal was expected to be 3.5pc, but it might slightly come down due to lower than expected performance of the agriculture sector. “Primarily on account of adverse supply side shocks to cotton production as well as contraction in LSM (large-scale manufacturing) to date, SBP’s projection for real GDP growth for FY20 is likely to be revised downward,” he added.

Cotton production has been revised downward due to adverse supply side shocks. LSM indicates that economic activity is strengthening in export-oriented and import-competing industries, while inward-oriented industries continue to slow down, he said.

The SBP governor said the export sector had so far emerged as the best performer for the economy. He announced plans to enhance the amount for long-term export financing and export finance scheme collectively by Rs200 billion.

He said the export scheme was not for all exporters but with the enhancement of incentives, all kinds of exporters had been added to it to diversify exports, adding that the limit had also been increased from Rs2.5bn to Rs5bn for an exporter.

Dr Baqir said a policy would soon be announced for small exporters. He said that three positive changes were noted since the announcement of the last monetary policy — substantial reduction in current account deficit along with a stable exchange rate which is market-based, improvement in business confidence (as per IBA-SBP survey) and fiscal developments which remained on track and in line with the commitments made under the IMF-supported programme.

He said revenue collection during the first half of the current fiscal had increased by 16pc, non-interest current expenditure was strictly controlled and Rs300bn [as compared to Rs187bn during the same period last year] was released under the Public Sector Development Programme, indicating that fiscal consolidation remained on track.

Dr Baqir rejected a perception that ‘hot money’ — foreign investment in treasury bills — was the real factor behind the increase in State Bank’s foreign exchange reserves and that it could cause a serious problem. He said the bulk of SBP’s reserves adequacy stemmed from the improvement in current account, and not portfolio inflows, while current inflows comprised only 3.8pc of total marketable government debt.

He said current account deficit contracted by 75pc to $2.15bn during the first half of FY20. The SBP’s foreign exchange reserves increased from $7.28bn by the end of June 2019 to $11.73bn as of Jan 17, 2020, an increase of $ 4.45bn. The SBP’s short liabilities fell by $ 3.82bn in the first six months of FY20. These developments have significantly improved the SBP’s net international reserves position, he added.

https://www.dawn.com/news/1531163/p...-progress-to-get-off-fatf-grey-list-sbp-chief

 

[WebGuru]

According to reports Pakistan will stay in Grey List fir 4 more months.

 

[Abdullah719]

Irregularities Found at Pakistan’s Top Bank After U.S. Sanction

A Middle East operation of Pakistan’s largest bank displayed “significant irregularities” in dealings with politically exposed clients and screening some transactions, according to an inspection by the South Asian nation’s central bank that took place more than a year after the lender was shut out of the U.S. financial system.

The findings are contained in a State Bank of Pakistan report, finalized in the first half of 2019, on Habib Bank Ltd.’s operations in the United Arab Emirates. The inspection was conducted after the Financial Action Task Force, a global watchdog for illicit financial activities, put Pakistan on its monitoring list.

FATF is due to review whether to downgrade Pakistan a step further, to its blacklist, at a meeting in Paris that starts on Sunday. That would have serious consequences for the nation’s economy and its bailout program with the International Monetary Fund.

SAFRICA-CRIME-TRIAL-DUDUZANE
Duduzane Zuma in 2018.Photographer: Gulshan Khan/AFP via Getty Images
Employees in some of Habib Bank’s U.A.E. branches helped certain customers disguise transactions by issuing pay orders in their own names, while gaps in risk profiling and monitoring reflected an “ineffective compliance function and compliance culture,” the central bank said. In an earlier draft version of its inspection report, also seen by Bloomberg News, the central bank said U.A.E. staff skirted rules when opening an account for Duduzane Zuma, the son of former South African President Jacob Zuma.

The critical nature of the findings, which haven’t previously been reported, offers further evidence of the sorts of weak controls FATF has been looking at more broadly in its assessment of Pakistan, though the central bank’s final inspection report also notes some remedial measures taken by the bank. After Pakistan was put on the FATF monitoring list in June 2018, it pledged to improve observance of global anti-money laundering and counter-terrorism financing controls.

https://www.bloomberg.com/news/arti...und-at-pakistan-s-top-bank-after-u-s-sanction

 

[Bewal Express]

Irregularities Found at Pakistan’s Top Bank After U.S. Sanction

A Middle East operation of Pakistan’s largest bank displayed “significant irregularities” in dealings with politically exposed clients and screening some transactions, according to an inspection by the South Asian nation’s central bank that took place more than a year after the lender was shut out of the U.S. financial system.

The findings are contained in a State Bank of Pakistan report, finalized in the first half of 2019, on Habib Bank Ltd.’s operations in the United Arab Emirates. The inspection was conducted after the Financial Action Task Force, a global watchdog for illicit financial activities, put Pakistan on its monitoring list.

FATF is due to review whether to downgrade Pakistan a step further, to its blacklist, at a meeting in Paris that starts on Sunday. That would have serious consequences for the nation’s economy and its bailout program with the International Monetary Fund.

SAFRICA-CRIME-TRIAL-DUDUZANE
Duduzane Zuma in 2018.Photographer: Gulshan Khan/AFP via Getty Images
Employees in some of Habib Bank’s U.A.E. branches helped certain customers disguise transactions by issuing pay orders in their own names, while gaps in risk profiling and monitoring reflected an “ineffective compliance function and compliance culture,” the central bank said. In an earlier draft version of its inspection report, also seen by Bloomberg News, the central bank said U.A.E. staff skirted rules when opening an account for Duduzane Zuma, the son of former South African President Jacob Zuma.

The critical nature of the findings, which haven’t previously been reported, offers further evidence of the sorts of weak controls FATF has been looking at more broadly in its assessment of Pakistan, though the central bank’s final inspection report also notes some remedial measures taken by the bank. After Pakistan was put on the FATF monitoring list in June 2018, it pledged to improve observance of global anti-money laundering and counter-terrorism financing controls.

https://www.bloomberg.com/news/arti...und-at-pakistan-s-top-bank-after-u-s-sanction

Habib Bank needs to be investigated

 

[Ronaldo7]

The voting is LIKELY to be held tomorrow (19th Feb).
According to analysts, it is unlikely that Pakistan will get off the Grey List but i'm hoping against hope that we do.

 

[Romali_rotti]

It really makes no difference now I see it whether Pakistan stays on any list really. China has all the money and They will buy Pakistan out if things become absolutely dire..

 

[Thomaskutty]

It really makes no difference now I see it whether Pakistan stays on any list really. China has all the money and They will buy Pakistan out if things become absolutely dire..

Imran's silence on his muslim brothers in Xinjiang and also Coronavirus sacrifices, has brought him rave reviews in Beijing. He will be handsomely rewarded for this by China.

 

[IndianHero]

pakistan can escape from being black listed but it can't escape from IMF ! Through govt. they will continue to burden comman man in pakistan with more & more taxes

 

[Bilal_103]

indian posters are more worried than Pakistani ones. I wonder why?

 

[King-Misbah]

indian posters are more worried than Pakistani ones. I wonder why?

Because deep down a lot of them want Pakistan to not progress.

 

[Napa]

Because deep down a lot of them want Pakistan to not progress.

Or maybe they just want pressure on Pakistan to be maintained so that it reduces its support for terrorism:

https://www.wsj.com/articles/pakistan-jails-notorious-militant-ahead-of-sanctions-threat-11581519301
https://www.ft.com/content/cb89184c-f196-11e9-ad1e-4367d8281195

 

[King-Misbah]

Or maybe they just want pressure on Pakistan to be maintained so that it reduces its support for terrorism:

https://www.wsj.com/articles/pakistan-jails-notorious-militant-ahead-of-sanctions-threat-11581519301
https://www.ft.com/content/cb89184c-f196-11e9-ad1e-4367d8281195

Pot, kettle, black.

 

[Ronaldo7]

The voting is LIKELY to be held tomorrow (19th Feb).
According to analysts, it is unlikely that Pakistan will get off the Grey List but i'm hoping against hope that we do.

Looks like no voting will be held as FATF wants to keep pressure on Pakistan and because you have to stay on the greylist for at least 2 years before you can be removed from it. So June 2020 is when Pakistan can be removed from the grey list
Pakistan has avoided the blacklist and thr voting for the greylist will happen in the next session, so in October i think.

 

[IMMY69]

Because deep down a lot of them want Pakistan to not progress.

Deep Down? You hardly have to scratch the surface

 

[Lonewarrior]

when will indians and thre govt will understand the reality ? They cant put Pakistan on Blacklist, no matter how hard they try ...
and talking about keep pressuring on Pakistan, we have beat them before in thre own game, we will do it again...
you are free to apply all shades of Grey on Pakistan, we wont give up ...

 

[Napa]

Pot, kettle, black.

I am not sure where you get the comparison from given that India has never been on any FATF list.

 

[Napa]

when will indians and thre govt will understand the reality ? They cant put Pakistan on Blacklist, no matter how hard they try ...
and talking about keep pressuring on Pakistan, we have beat them before in thre own game, we will do it again...
you are free to apply all shades of Grey on Pakistan, we wont give up ...

Thanks to the antics of your Army/ISI your economy stinks, repeated bailouts by IMF are necessary and the security situation stops teams from countries like Australia, England etc. from touring. Being on the FATF grey list is an awful signal to prospective foreign investors, and part of the reason why Pakistan't doesn't get much Western FDI.

And you console yourself with the idea that "we have beat them before in thre own game"?

 

[Lonewarrior]

[MENTION=142162]Napa[/MENTION]

again, doesnt matter, we arent going to do what they want, we never did that before and we arent going to do in future.
btw, you people can still have some wet dreams to "pressurize" Pakistan in your bed at nite.

we were in the grey list twice before and came out from it ,,, we know the US tactics.

tag me when Pakistan will be in Blacklist ... till thn indians should find more shades of Grey Color .... )

 

[AdamM97]

[MENTION=142162]Napa[/MENTION]

again, doesnt matter, we arent going to do what they want, we never did that before and we arent going to do in future.
btw, you people can still have some wet dreams to "pressurize" Pakistan on your bed at nite.

we were in the grey list twice before and came out from it ,,, we know the US tactics.

tag me when Pakistan will be in Blacklist ... till thn indians should find more shades of Grey Color .... )

Remember when Indians were celebrating Modi’s attempts at isolating Pakistan on the international stage. )

 

[Mesozoic]

Are people actually celebrating the fact that they're only on the grey list and not on the black one ?

)

 

[Ronaldo7]

Are people actually celebrating the fact that they're only on the grey list and not on the black one ?

)

We're just celebrating the fact that we'll be out of the grey list in the next 3-6 months.

 

[Lonewarrior]

[MENTION=151350]Mesozoic[/MENTION]

how dumb are you ?

no, we are laughing on the Dumb indians BJP bhkts who were hoping that Pakistan is going for the Blacklist, they didnt even know the history of the FATF, we were twice in the grey list before, and came out ... its just a US tool. nothing more thn that.
you people should keep finding the 100 shades of Grey .... lol )

 

[Mesozoic]

So , it's okay to be on the grey list even if you get economically sanctioned and your international trade goes down.

All that matters is that BJP "bhakts" are proven wrong and you can do bhangra over it even when your country is relying on IMF bailouts to survive.

Great ! Please continue.

 

[Lonewarrior]

[MENTION=151350]Mesozoic[/MENTION]

its not going to be permanent , IMF bailouts have nothing to do with FATF ... its becoz of past 10 years of incompetent govts.

 

[cricketjoshila]

Some people are happy that they are not in black list but grey list for terror financing.

And then there are countries which have never been on any such list.

 

[Bhaag Viru Bhaag]

Why do some people desperately want to see Pakistan on the black list? What will it achieve? I think under Imran Pakistan has improved its image which should be a good sign for all the neighbours.

 

[Local.Dada]

So , it's okay to be on the grey list even if you get economically sanctioned and your international trade goes down.

All that matters is that BJP "bhakts" are proven wrong and you can do bhangra over it even when your country is relying on IMF bailouts to survive.

Great ! Please continue.

True this changes my perspective and finds a new found admiration that Pak managed to get into the grey list twice, came out of it and got back in the 3rd time.

 

[Iqbal'sh]

Some people are happy that they are not in black list but grey list for terror financing.

And then there are countries which have never been on any such list.

But those same countries rejoice at the thought of Pakistan joining the DARK GREY list?
Pakistanis don’t give a hoot to being in the FATF list largely because they know it’s a political game played by the usual subjects.
Only some people are naive enough to believe this baloney.

 

[Ronaldo7]

Some people are happy that they are not in black list but grey list for terror financing.

And then there are countries which have never been on any such list.

We're just happy we didn't have to go through the 50 shades of grey, as stated by your media

Also, ask your Indian media, are we still on the "Dark Grey" list?

 

[kk1992]

Why do some people desperately want to see Pakistan on the black list? What will it achieve? I think under Imran Pakistan has improved its image which should be a good sign for all the neighbours.

You can't always hide hate, it comes out unintentionally some time.

 

[Iqbal'sh]

True this changes my perspective and finds a new found admiration that Pak managed to get into the grey list twice, came out of it and got back in the 3rd time.

Life is too short much better to take a few risks rather than leading a mundane existence

 

[cric_man]

We're just happy we didn't have to go through the 50 shades of grey, as stated by your media

Also, ask your Indian media, are we still on the "Dark Grey" list?

now more like very light grey... almost white

 

[Napa]

[MENTION=142162]Napa[/MENTION]

again, doesnt matter, we arent going to do what they want, we never did that before and we arent going to do in future.

That’s just false bravado. No country likes being poor and bankrupt.

If Islamabad comes out of the 'Grey List', it will be easy for the country to get financial aid from the international and multinational lenders such as the International Monetary Fund, World Bank, ADB and the European Union on easy terms and conditions to support its struggling economy.
"The world is ready to help Pakistan how to ensure compliance over FATF guidelines, as we lack capacity in some critical areas of controlling terror financing, but tolerance for non-compliance is zero. The recent official actions reflect this understanding. So a reversion to the bad old days is unlikely," Pervez Tahir, former chief economist, Government of Pakistan, told Khaleej Times.

https://m.khaleejtimes.com/internat...kely-to-be-out-of-fatfs-grey-list-next-month-

 

[cricketjoshila]

But those same countries rejoice at the thought of Pakistan joining the DARK GREY list?
Pakistanis don’t give a hoot to being in the FATF list largely because they know it’s a political game played by the usual subjects.
Only some people are naive enough to believe this baloney.

Ofcourse some pakistanis dont care, because the same ones think international terrorists are freedom fighters.

 

[Uzi]

Thanks to the antics of your Army/ISI your economy stinks, repeated bailouts by IMF are necessary and the security situation stops teams from countries like Australia, England etc. from touring. Being on the FATF grey list is an awful signal to prospective foreign investors, and part of the reason why Pakistan't doesn't get much Western FDI.

And you console yourself with the idea that "we have beat them before in thre own game"?

Thanks for your concern, but it really isn't needed.

 

[Lonewarrior]

[MENTION=142162]Napa[/MENTION]


again, its not a false bravado,

how we managed to gt out from FATF twice ? can someone plz tell me the answer of this question ? or do you think we really complied whatever they ask to Pakistan ?

no we never did anything. we always do what we think its best for Pakistan.

we have managed to gt out from FATF twice, so we will come out again ... IMF, ADB is already giving Aid to Pakistan ..
its just a tool from US for arm twisting ... thats all.

we know how to play the long Game .....

 

[Napa]

[MENTION=142162]Napa[/MENTION]


again, its not a false bravado,

how we managed to gt out from FATF twice ? can someone plz tell me the answer of this question ? or do you think we really complied whatever they ask to Pakistan ?

no we never did anything. we always do what we think its best for Pakistan.

we have managed to gt out from FATF twice, so we will come out again ... IMF, ADB is already giving Aid to Pakistan ..
its just a tool from US for arm twisting ... thats all.

we know how to play the long Game .....

If your idea of playing the long game is needing 13 bailouts over 70 years, that's your choice. You are delusional if you believe you are getting anywhere worthwhile when your country could have been very rich given its abundant natural and human capital resources.

No more replies unless I see something intelligent.

 

[Lonewarrior]

[MENTION=142162]Napa[/MENTION]

we might get more bailouts in future, so ? why do you care ?
i find it amusing whenever some indian bhkt or US citizen have concern for Pakistan ...
btw, thanks for your concern ...

 

[globalcitizen]

can’t understand why people seem ignorant that they are in greylist or potentially blacklist , this is doings of your past and present government in using terrorism as a tool to achieve regional supremacy. Unfortunately it’s biting chunks off your economy

 

[ahsan17]

I am not sure where you get the comparison from given that India has never been on any FATF list.

It's more to do with sponsoring terrorism than the list. The list itself isn't set by independent impartial parties anyway, so who's on that list is meaningless.

 

[ahsan17]

can’t understand why people seem ignorant that they are in greylist or potentially blacklist , this is doings of your past and present government in using terrorism as a tool to achieve regional supremacy. Unfortunately it’s biting chunks off your economy

The list has nothing to do with alleged support of terrorism by the state.

 

[ahsan17]

Ofcourse some pakistanis dont care, because the same ones think international terrorists are freedom fighters.

No, because simply these lists are politics and are not based on objectivity or impartial views.

 

[Local.Dada]

India got into financial trouble BOP issues once in the early 90s where they almost became bankrupt and guess what they never let that happen again.

Not sure why few folks are wearing getting into the grey list 3 times as a badge of honor even though apparently they managed to get out of it

 

[ahsan17]

India got into financial trouble BOP issues once in the early 90s where they almost became bankrupt and guess what they never let that happen again.

Not sure why few folks are wearing getting into the grey list 3 times as a badge of honor even though apparently they managed to get out of it

It's not a badge of honour, but rather a meaningless list. It's proven to be a political tool and entry onto these lists is based on global geopolitics rather than objective thinking.

 

[Local.Dada]

It's not a badge of honour, but rather a meaningless list. It's proven to be a political tool and entry onto these lists is based on global geopolitics rather than objective thinking.

Meaningless for whom? Name one business that has overlooked these factors and are dying on invest in Pakistan.

Look I Don’t take pride in the misery of the common folk even if they are from a rival nation but you need to question why Pak keeps getting into
Such messes in the first place.

 

[ahsan17]

Meaningless for whom? Name one business that has overlooked these factors and are dying on invest in Pakistan.

Look I Don’t take pride in the misery of the common folk even if they are from a rival nation but you need to question why Pak keeps getting into
Such messes in the first place.

First, why do you think this is causing misery in Pakistan? Pakistan's poverty rate is far lower than that of India's.

Second, this is meaningless from a moral perspective. You could call it similar to US sanctions on Iran, even though those sanctions are much worse. The listing is purely based on political calculation rather than objective reasoning.

 

[Local.Dada]

First, why do you think this is causing misery in Pakistan? Pakistan's poverty rate is far lower than that of India's.

Second, this is meaningless from a moral perspective. You could call it similar to US sanctions on Iran, even though those sanctions are much worse. The listing is purely based on political calculation rather than objective reasoning.

The poverty rate is always such a false equivalence argument. Sure india has a lot of poor people but it is the 2nd most populous country on earth.

By the same account India also would make the lists of countries with most millionaires/billionaires too.

But What you need to look at is the purchasing power of India’s middle class and how many are moving from poor to what is considered middle class.

IT ,foreign investments and even call centers that are looked down upon have single handedly raised the value of life for lakhs of folk in the last few years.

These companies invest in Indian cities because of various factors like ease of business and security.

Modern India and Pakistan are both by products of the British Raj. In both countries there are huge disparities between rich and poor, however what separates India from Pakistan is the sheer volume of difference in the urban middle class.

So the FATF list is insignificant but random tweets about India’s atrocities in Kashmir are the gospel.

Not one Indian denies that there are some if not a lot of problems which are still a work in progress in India but trust me there is a reason why india doesn’t get into such lists by significant bodies however insignificant they seem to you.

 

[ahsan17]

The poverty rate is always such a false equivalence argument. Sure india has a lot of poor people but it is the 2nd most populous country on earth.

By the same account India also would make the lists of countries with most millionaires/billionaires too.

But What you need to look at is the purchasing power of India’s middle class and how many are moving from poor to what is considered middle class.

IT ,foreign investments and even call centers that are looked down upon have single handedly raised the value of life for lakhs of folk in the last few years.

These companies invest in Indian cities because of various factors like ease of business and security.

Modern India and Pakistan are both by products of the British Raj. In both countries there are huge disparities between rich and poor, however what separates India from Pakistan is the sheer volume of difference in the urban middle class.

I am talking about poverty rate, not the absolute number of people in poverty. As a percent of the population, Pakistan does far better.

So the FATF list is insignificant but random tweets about India’s atrocities in Kashmir are the gospel.

Who said anything about tweets about Kashmir?

Not one Indian denies that there are some if not a lot of problems which are still a work in progress in India but trust me there is a reason why india doesn’t get into such lists by significant bodies however insignificant they seem to you.

India doesn't get into these lists because the wind of politics vis-a-vis West (i.e. the entities that primarily control) favour India at the moment, because those countries want to contain China. They overlook Indian support for terrorism in Pakistan for the same reason.

 

[Napa]

First, why do you think this is causing misery in Pakistan? Pakistan's poverty rate is far lower than that of India's.

You are probably looking at some outdated World Bank data on India. The latest estimate is that India has sharply reduced extreme poverty below 3%.

India’s success. The soon-to-be-largest country in the world has been reducing extreme poverty fast and the world may have underestimated India’s achievements. India’s last household survey of 2017/18 (to be released in 2019) captures household consumption more comprehensively—it will include an adjustment for owner-occupied housing and measure other items in accordance with common international practices. World Data Lab anticipates the effects of these methodological adjustments will result in a level of extreme poverty in India today of 50 million people, which will come down to 40 million (a poverty rate of below 3 percent) by end 2019.

https://www.brookings.edu/blog/futu.../rethinking-global-poverty-reduction-in-2019/

Pakistan on the other hand is going in the opposite direction due to anemic growth rates and food inflation. The following figures of poverty for Pakistan use a different benchmark, so the percentages are not directly comparable to Indian percentages. But the point is that poverty seems to be increasing in Pakistan, and the government's response is "we can't be bothered to measure if it is increasing or decreasing".

ISLAMABAD: At the end of two years of the Pakistan Tehreek-e-Insaf (PTI) government, 18 million more people may slip into abject poverty due to low economic growth and double-digit food inflation, claimed Dr Hafiz A Pasha, the country’s renowned economist.

The national poverty ratio, which was 31.3% in June 2018, would sharply jump to over 40% by June 2020, said Pasha in an article that first appeared in Business Recorder.

In absolute terms, people living in poverty will increase from 69 million in June 2018 to 87 million by June 2020, indicating 26% increase in poverty or an addition of 18 million people in first two years of the PTI government.
As per Pasha’s claim, eight million people have already been added to the ranks of the poor by the end of the first year of the PTI government. He has projected that 10 million more people will slip below the poverty line by the end of the current fiscal year.
Pakistan’s rich and poor live in different countries

“The situation is very alarming due to an economic growth rate that is close to the population growth rate and an exponential increase in prices of perishable food items,” said Pasha while talking to The Express Tribune on Tuesday.

Pasha has worked out these numbers on the basis of a cost-based methodology amid the federal authorities’ inability to firm up official poverty figures over the past three years which also include one year of the PTI government.

“We do not have latest official poverty statistics,” responded Federal Minister for Planning and Development Asad Umar when he was contacted for the government’s version.

https://tribune.com.pk/story/2115274/2-millions-fall-poverty-line/

You may very bravely say "being on a FATF list doesn't matter", but it does matter to the poor. Lack on FDI and the consequent anemic economic growth pushes more people into poverty.

 

[Syed1]

Before these Indians give Pakistan lectures about poverty and economy, they will be best served to look at the pathetic state of their own country which is a basket case of inequality and has more poor people than we have people. Heck just today there is a thread on PP where the Indian government is building walls to hide the poor and hungry from Trump. Then these Indians have the gall to turn around and give us lectures.

 

[Local.Dada]

Before these Indians give Pakistan lectures about poverty and economy, they will be best served to look at the pathetic state of their own country which is a basket case of inequality and has more poor people than we have people. Heck just today there is a thread on PP where the Indian government is building walls to hide the poor and hungry from Trump. Then these Indians have the gall to turn around and give us lectures.

Also if your source of information on India is threads on PP and posts ,I suggest expanding your world view by reading credible news sources.

No one denies india has their share of problems but what does it have to do with Pak being on a grey list.

The harsh truth is Indian economy, democracy, infrastructure , ease of business etc etc is far ahead of Pakistan.

India might have made a lot of mistakes but we have made a lot of right decisions too to get where we are.

The moment there is a news showing india in a positive light the rhetoric becomes about rapes, toilets or some idiots violating law etc . Since you believe Pak has none of these existing negatives maybe if you look at the positives or redeeming quality india has may be your country can become heaven on earth instead of being stuck on the flaws.

Peace