On Friday, FATF said that Pakistan will stay on the grey list of the global terror financing watchdog till February next year, as the country failed to meet the conditions needed for unfettered access to international funds.
Financial Action Task Force (FATF) said: Pakistan, which has not met six of the 27 points it had to fulfill, needs to do more, according to sources. It said an on-site visit by the FATF would only be done once Islamabad fulfills all conditions and only then Pakistan will have the curbs lifted.
It said: “Pakistan has completed 21 out of 27 items. It means that the world has become safer but six deficiencies need to be repaired. We give them a chance to repair their progress and if not then a country will be pushed to the blacklist.”
Pakistan had also failed to effectively crackdown on means of financing terror activities and money laundering and four nominating countries USA, UK, France and Germany were not fully satisfied with its role in Afghanistan, sources had said.
The watchdog also put a general pause in the review process, thus giving additional four months to Pakistan to meet the requirements.
To avoid the blacklist, Pakistan has needed the support of three countries and it has been consistently backed by China, Turkey and Malaysia to dodge the label. Currently, North Korea and Iran are in the FATF blacklist. Pakistan needs 12 votes out of 39 to exit the grey list and move to the white list.
