Pakistan likely to avoid FATF blacklist, admits Indian media

Pakistan is likely to avoid being placed on a blacklist of countries responsible for terror financing, according to a report published by Indian news publication The Times of India.

A meeting of the Financial Action Task Force (FATF), currently underway in Paris, is expected to make a final decision on Friday with regards to placing Pakistan on the blacklist and announcing it to the media.

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Economic Affairs Minister Hammad Azhar is leading a Pakistan delegation at the meeting. The delegation earlier this week presented FATF a compliance report of Pakistan on a previously agreed action plan.

The Indian publication claims that Islamabad has secured the three votes required to keep a country off the FATF blacklist. Reports earlier had indicated that China, Turkey and Malaysia are backing Pakistan at FATF.

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China is also presiding over the current meeting of the financial action task force, that could help the Pakistan effort to avert the black-list further.

Last year, FATF had placed Pakistan on a grey-list of countries responsible for terror-financing, presenting Islamabad with a 27-point action plan to adopt strict anti-money laundering measures.

Also read:Pakistan complied with 36 of 40 FATF parameters: APG report

In June this year, the financial body gave Pakistan another four months to impenitent the action plan. This week, the FATF reviewed a compliance report of Paistan in this regard.

The black-listing of a country by the financial task force usually results in economic sanctions and trade penalties. imposed and implemented by the G-7 nations. Grey-listing by the FATF does not lead to sanctions.