ANL 34.52 Increased By ▲ 0.67 (1.98%)
ASC 15.16 Increased By ▲ 0.26 (1.74%)
ASL 24.83 Increased By ▲ 0.32 (1.31%)
AVN 95.00 Increased By ▲ 3.86 (4.24%)
BOP 7.87 Decreased By ▼ -0.07 (-0.88%)
BYCO 10.31 Increased By ▲ 0.53 (5.42%)
DGKC 126.60 Increased By ▲ 1.85 (1.48%)
EPCL 57.16 Increased By ▲ 1.91 (3.46%)
FCCL 24.50 Increased By ▲ 0.09 (0.37%)
FFBL 27.96 Increased By ▲ 0.01 (0.04%)
FFL 16.04 Increased By ▲ 1.14 (7.65%)
HASCOL 10.02 Increased By ▲ 0.28 (2.87%)
HUBC 80.00 Increased By ▲ 0.83 (1.05%)
HUMNL 6.45 Increased By ▲ 0.21 (3.37%)
JSCL 20.41 Increased By ▲ 0.50 (2.51%)
KAPCO 40.94 Increased By ▲ 0.69 (1.71%)
KEL 3.87 Increased By ▲ 0.02 (0.52%)
LOTCHEM 17.24 Increased By ▲ 0.54 (3.23%)
MLCF 46.91 Increased By ▲ 1.17 (2.56%)
PAEL 36.17 Increased By ▲ 2.69 (8.03%)
PIBTL 10.49 Increased By ▲ 0.19 (1.84%)
POWER 9.35 Increased By ▲ 0.15 (1.63%)
PPL 85.74 Increased By ▲ 0.16 (0.19%)
PRL 25.71 Increased By ▲ 1.21 (4.94%)
PTC 9.45 No Change ▼ 0.00 (0%)
SILK 1.17 Decreased By ▼ -0.09 (-7.14%)
SNGP 39.36 Increased By ▲ 0.10 (0.25%)
TRG 159.61 Increased By ▲ 11.13 (7.5%)
UNITY 30.75 Increased By ▲ 1.12 (3.78%)
WTL 1.43 Increased By ▲ 0.23 (19.17%)
BR100 4,852 Increased By ▲ 65.72 (1.37%)
BR30 25,671 Increased By ▲ 690.82 (2.77%)
KSE100 45,186 Increased By ▲ 445.12 (0.99%)
KSE30 18,485 Increased By ▲ 152.7 (0.83%)

Coronavirus
VERY HIGH
Pakistan Deaths
15,329
10024hr
Pakistan Cases
715,968
513924hr
Sindh
268,284
Punjab
245,923
Balochistan
20,178
Islamabad
64,902
KPK
97,318
Business & Finance

Expert believes Omar Sheikh’s acquittal not to impact Pakistan’s status on FATF grey list

  • The analyst was of the view that that the question is whether Pakistan would remain on the gray list’ or be off it, as it won’t be blacklisted.
24 Feb 2021

A leading expert on South Asia affairs has expressed that the recent acquittal of Omar Shaikh by the Supreme Court will not have any impact on Pakistan’s Financial Action Task Force (FATF) status in the ongoing plenary.

“Contrary to some reportage, the Omar Sheikh acquittal should have no bearing on deliberations about Pakistan's FATF status, which relates to a very specifically defined list of items on its Action Plan-none of which relate to Sheikh. Though, there are reputational considerations,” said Michael Kugelman, deputy director of the Asia Program at the Wilson Center, in a tweet post.

The analyst was of the view that that the question is whether Pakistan would remain on the ‘grey list’ or be off it, as it won’t be blacklisted.

“The issue isn't whether it'll be blacklisted (it won't), but more so if it comes off the "gray list." A good chance it'll stay, given member views that some Action Plan items not complete.”

Meanwhile, Pakistan has expressed optimism regarding its FATF status. The Paris based watchdog begin its plenary on Monday. The four day meeting would review Pakistan’s progress and decide about its fate with respect to grey list.

FATF after October 2020 Plenary has strongly urged Pakistan to continue working on implementing its action plan to address its strategic deficiencies, including by (i) demonstrating that law enforcement agencies are identifying and investigating the widest range of TF activity and that TF investigations and prosecutions target designated persons and entities, and those acting on behalf or at the direction of the designated persons or entities; (ii) demonstrating that TF prosecutions result in effective, proportionate and dissuasive sanctions; (iii) demonstrating effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists and those acting for or on their behalf, preventing the raising and moving of funds including in relation to non profit organisations (NPOs), identifying and freezing assets (movable and immovable), and prohibiting access to funds and financial services; and (iv) demonstrating enforcement against TFS violations, including in relation to non profit organisation NPOs, of administrative and criminal penalties and provincial and federal authorities cooperating on enforcement cases.