FATF Paris Plenary: Pakistan remains on grey-list; Turkey backs Islamabad

Ramya Patelkhana
·3-min read


FATF Paris Plenary: Pakistan remains on grey-list; Turkey backs Islamabad
FATF Paris Plenary: Pakistan remains on grey-list; Turkey backs Islamabad

24 Oct 2020: FATF Paris Plenary: Pakistan remains on grey-list; Turkey backs Islamabad

The Financial Action Task Force (FATF) has decided to keep Pakistan on its grey list after the country failed to fully comply with a 27-point action plan given to it.

The decision was taken at FATF's Paris Plenary on Friday, after all member countries of the global watchdog, except for Turkey, wanted Pakistan to remain on the grey list.

Here are more details.

Pakistan: Pakistan made progress, but needs to do more: FATF President

FATF President Marcus Pleyer said, "They (Pakistan) have completed 21 out of 27 (parameters). Pakistan has made progress but it needs to do more."

Islamabad will remain on FATF's grey list until the review of its compliance to the 27-point action plan to be held in February 2021. The grey list includes countries that are deemed non-compliant with anti-money laundering and terrorist financing regulations.

Statement: FATF urges Pakistan to complete full action plan by February

"Pakistan has made progress across all action plan items and has... largely addressed 21 of 27 action items. As all action plan deadlines have expired, the FATF strongly urges Pakistan to swiftly complete its full action plan by February 2021," stated the global financing watchdog.

Pakistan, which was given the action plan in June 2018, was expected to meet the same by October 2019.

Fact: Pakistan needs to do more on checking terror funding: Pleyer

"Pakistan remains in the increased monitoring list or the grey list," said Pleyer. "Pakistan failed to fulfill six of the 27 mandates given to check terror funding. Pakistan needs to do more on checking terror funding, it can't stop now," he added.

Details: The six parameters Pakistan failed to comply with

The six parameters of the 27-point action plan that Pakistan failed to comply with reportedly include lack of action against charitable/non-profit organizations linked to terror outfits banned by the UN Security Council.

They also include delays in the prosecution of banned individuals/entities such as Lashkar-e-Taiba (LeT) chief Hafiz Saeed, LeT operations chief Zaki Ur Rahman Lakhvi, and Jaish-e- Mohammad chief Masood Azhar, among others.

Turkey's support: The growing equation between Pakistan and Turkey

Interestingly, Turkey emerged the lone supporter of Pakistan's bid to be removed from FATF's grey list.

Diplomats in Paris and Brussels said that all the FATF members except Turkey favored retaining Islamabad in the list due to the lack of compliance with the deadlines.

The growing equation between Pakistan and Turkey signals the development of a newfound radical Islamic nexus between the two nations.

China, Saudi Arabia: China and Saudi Arabia supported Pakistan at ICRG meeting

China and Saudi Arabia also spoke in support of Pakistan's removal from the grey list on technical grounds at the meeting of the International Cooperation Review Group (ICRG) before the FATF plenary session.

However, Turkey was the only country to back its new ally, Islamabad, at the Paris Plenary of the FATF held between October 21 and 23.

Turkey, Pakistan: 'Turkey has been fomenting trouble everywhere': Middle-East watcher

"Turkey has been fomenting trouble everywhere from Iraq, Syria to Libya and Azerbaijan," said a Middle-East observer.

"They, along with Pakistan, with ISI and military experience of organizing terrorism and Islamist insurgencies, are at the sharp edge of violence, instability, and unrest in different parts of the world," added the observer, speaking on the new Pakistan-Turkey equation.