Financial Action Task Force: Way Forward For Pakistan
3:00 pm to 5:00 pm
SDPI's Seminar Hall
Formed in 1989, Financial Action Task Force (FATF) is a global body to combat money laundering, terrorist financing and other illegal activities related to international financial system. FATF’s grey list includes countries that are not doing enough to curb such activities. Pakistan remained on the list between 2012 and 2015 and later removed.
The recent tension between the US and Pakistan has reportedly resulted in considering Pakistan to put on the grey list once again, which will be effective from June this year. Pakistan’s likely inclusion in the list raised alarms within and outside the country, as this time FATF just acted on United States’ proposal with the backing of some other countries.
It is being debated that the inclusion in grey list will squeeze Pakistan’s economy and makes it harder for the country to meet its foreign financing needs, including potential future borrowings from the donor agencies.