Pakistan protests India's inclusion in FATF Asia Pacific Group
- By Web Desk -
- Mar 09, 2019
ISLAMABAD: Pakistan on Saturday raised an objection over India’s inclusion in the Financial Action Task Force (FATF) Asia Pacific Group, ARY News reported.
Finance Minister Asad Umar, in this regard, has written a letter to the FATF registering Pakistan’s protest on the latest member induction.
“India has an aim to impede Pakistan’s economic progress,” he wrote in the letter.
I have written to the FATF president to remove India from the position of co chair for the Pakistan FATF review. India has blatantly abused its position by lobbying to get Pakistan blacklisted in the last review in Paris. We successfully defended our position Alhamdulillah
— Asad Umar (@Asad_Umar) March 9, 2019
He underlined that recent violations of the line of control by India demonstrated the mindset of the neighbouring country.
Read also: FATF acknowledges Pakistan’s anti-money laundering steps, urges further quick steps
Umar wrote that India was lobbying hard to isolate Pakistan in the international world.
The finance minister said Pakistan was implementing the action plan given by the FATF and pursuing it rigorously.
He feared that Pakistan would be harassed with the inclusion of India in the FATF Asia Pacific Group.
Meanwhile, the FATF on Friday in its appraisal of Pakistan’s progress over combating money laundering and terrorism financing called the steps taken by the country ‘satisfactory’. However, the body advised taking quick steps to meet its May 2019 deadline if the country wanted to be de-listed.
The FATF had placed Pakistan on a money laundering “grey list” early in 2018 but had given it time to take action against a further downgrade.
“Since June 2018, when Pakistan made a high-level political commitment to work with the FATF to strengthen its anti-money laundering/combating financing of terrorism regime and addressing its strategic counter-terrorist financing-related deficiencies, Pakistan has taken steps towards improving the regime, including by operationalising the integrated database for its currency declaration regime,” the body said in a statement.
To qualify for a de-listing, the FATF has urged that Pakistan should continue to work on implementing its action plan to address its strategic deficiencies.