FATF expresses satisfaction with Pakistan’s measures against terror financing

• Discussions were held regarding the measures taken against convicting persons involved in terror financing.
• FATF has demanded that the prosecution system be made more effective and that those involved in financing terrorists should be punished with speedy penalties and fines.

The Financial Action Task Force (FATF) has expressed satisfaction over Pakistan's measures to curb terror financing, as the intergovernmental organization reviews Pakistan’s performance at the ongoing plenary.

As per reports, discussions were held between FATF and the Pakistani delegation regarding the measures taken against convicting persons involved in terror financing in Paris. The Pakistani delegation told the body that the judicial system in Pakistan is completely free, the sentences served by courts are being implemented immediately.

The delegation also informed that legislation has been against terror financers in accordance with the FATF recommendations.

Meanwhile, the FATF has demanded that the prosecution system be made more effective and that those involved in financing terrorists should be punished with speedy penalties and fines.

The Pakistani delegation is led by Federal Minister for Economic Affairs Hammad Azhar, who is also accompanied by officials of the Ministry of Finance, the State Bank, and Federal Board of Revenue (FBR).

Pakistan is expected to receive support from 12 countries to exit the grey list, meanwhile China, Turkey and Malaysia have already announced their supported for Pakistan.

More than 800 representatives from 205 countries and jurisdictions around the world, the IMF, UN, World Bank and other organizations are participating in these meetings.

The ongoing plenary will decide Pakistan’s fate regarding if it will stay into grey list or not.

It is pertinent to inform that the FATF put Pakistan on the gray list in June 2018 under 27 action plans till September 2019, but the period was later extended to three more months.