Pakistan News Service

Thursday Feb 21, 2019, Jumada-al-thani 15, 1440 Hijri
Pakistan News Home -> Top -> News Details

Pakistan made commitment for combating terrorism financing: US State dept

01 July, 2018

  Related News  
Increase in petroleum prices by Interim govt
ECP to issue electoral symbols today
  More on this View All

WASHINGTON: Pakistan has made a high-level political commitment to combating terrorism financing, says the US State Department while urging Islamabad to meet its obligations.

On Friday, the Paris-based Financial Action Task Force (FATF) placed Pakistan on a ‘grey list’ of countries that failed to prevent terrorists from collecting funds within their territories.

This week, FATF held its plenary session in Paris where Pakistan presented a 26-point action plan to stamp out terrorism financing.

“We are pleased that Pakistan has made a high-level political commitment to work with FATF to address weaknesses in its counterterrorism financing (CFT) regime,” a State Depart­ment spokesperson told Dawn when asked for comments on the FATF decision.

“We strongly encourage Pakistan to work with FATF and the international community to meet its CFT obligations, including fulfilling its commitments under UN Security Council Resolution 1267 to freeze and prevent the raising and moving of funds belonging to or associated with UN-designated terrorist groups,” the US official added.

The 26-point plan, prepared for Pakistan by FATF’s Inter­national Cooperation Review Group (ICRG), requires Islam­abad to erase all sources of financing to terrorist outfits. The list includes Lashkar-e-Taiba (LeT), Jaish-e-Mohammad (JeM), Jamaatud Dawa (JuD) and its affiliates, the self-styled militant Islamic State (Daesh), the Haqqani Network, Pakistani Taliban and Al Qaeda.

FATF, an inter-governmental body established in 1989 to combat money laundering and terrorist financing, identified Pakistan as “a jurisdiction with strategic AML/CFT (anti-money laundering and countering the financing of terrorism) deficiencies.”

The decision to put Pakistan on the grey list had been taken at the FATF’s last plenary in February; however, it took effect after Pakistan successfully negotiated an action plan for overcoming those deficiencies.

Failure to do so could have placed Pakistan on the FATF blacklist, leading to serious economic sanctions. Pakistan can still be placed on the blacklist if it fails to implement the action plan.

 What do you think about the story ? Leave your comments!

Heading (Optional)
Your Comments: *

Your Name:*
E-mail (Optional):
City (Optional):
Country (Optional):
Field marked(*) are mandatory.
Note. The PakTribune will publish as many comments as possible but cannot guarantee publication of all. PakTribune keeps its rights reserved to edit the comments for reasons of clarity, brevity and morality. The external links like http:// https:// etc... are not allowed for the time being to be posted inside comments to discourage spammers.

  Speak Out View All
Military Courts
Imran - Qadri long march
Candid Corner
Exclusive by
Lt. Col. Riaz Jafri (Retd)
Pakistan itself a victim of state-sponsored terrorism: Qamar Bajwa
Should You Try Napping During the Workday?
Suggested Sites