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Tag Archives: FATF

In Quest for SMART POWER

In Quest for SMART POWER

Abdul Rasool Syed The Means to Success in World Politics Kudos to Pakistan Armed Forces, exclusively to Pakistan Air Force, for shooting down two Indian jets that violated Pakistani airspace! It was, for sure, an exemplary display of hard power that Pakistan has earned through the indefatigable industry and selfless devotion of its armed forces which they cherish for the ... Read More »

The Economy of Pakistan

The Economy of Pakistan

By: Osama Rizvi A Blueprint for Much-needed Reforms With a $313bn economy (as per the latest 2018 figures released by the State Bank of Pakistan), Pakistan is a country that has undergone a panoply of changes during the recent years. The year 2016 was the annus mirabilis as the stock market yielded a mouth-watering return of 46 percent. Besides this, ... Read More »

Under the FATF sword

Under the FATF sword

The recent raids of the Federal Investigation Agency on the currency dealers in the famous Sarafa Bazaar of Peshawar triggered afresh the debate on the issue of money laundering and the associated menace of terror financing and the rough ride Pakistan is experiencing with the Financial Action Task Force (FATF). Sarafa Bazar — though mainly known as the gold jewellery ... Read More »

Pakistan and FATF grey list

Pakistan and FATF grey list

We no longer can live in a cocoon and maintain isolation The decision to place Pakistan on the FATF grey list was a foregone conclusion. This will have an immediate effect on Pakistan’s financial institutions reflecting upon ‘deficiencies’ leading to check money laundering and failure to prevent terror financing, making funding by international financial institutions tougher on Pakistan. Acting Secretary ... Read More »

Pakistan’s FATF Challenge

Pakistan's FATF Challenge

By: Asad Hussain Grey must not convert into black! Pakistan has been included in its grey list by the Financial Action Task Force for not stopping the ‘financing of terrorism’. Despite hectic diplomatic efforts to avoid the preordained fate, the decision was taken on June 28 at the plenary session of the Financial Action Task Force (FATF) in Paris, France, ... Read More »

FATF: one shade of grey; 50 explanations & excuses

FATF: one shade of grey; 50 explanations & excuses

As the interim finance minister and her team left for Paris to present Pakistan’s case before the FATF plenary, the bank accounts of a notorious fourth scheduler were being unfrozen and he was otherwise preparing to join mainstream political processes. Months of hard work on the part of Pakistan’s government and banking institutions, as well as legitimate non-state actors, have ... Read More »

10 Herculean FATF tasks for Pakistan

Amnesty, the scheme for now

ISLAMABAD: The global watchdog body on terror financing has formally included Pakistan on Friday on its grey list by setting new Herculean tasks ahead for Islamabad to implement in coming months. Accepting Pakistan plan in a week-long meeting, the Financial Action Task Force (FATF) in its Paris meeting decided that Pakistan in June 2018 made a high-level political commitment to ... Read More »

Pakistan’s Formidable External Challenges

Pakistan's Formidable External Challenges

Undoubtedly, Pakistan once again is passing through a very critical phase of its history, surrounded as it is by formidable external challenges compounded by internal instability. Daily violations of LOC by India are a constant reminder of its military occupation of Kashmir in violation of UN Security Council resolutions and the threat posed by it to Pakistan’s security. On the ... Read More »

International Law in Context

International Law in Context

Reparation Case, Xi’s Elevation and FATF Grey List Introduction This part of the Debates will present three issues: first is the Reparation Case of 1949 that was specifically asked in international law paper for CSS 2018; second is a brief comment on the amendment to the constitutional law of China with respect to Chinese leader Xi Jinping; and the third ... Read More »

Economic fallout of being on grey list

PAKISTAN is once again in the danger zone owing to allegations of terror financing, and the situation can translate into economic damage. The Financial Action Task Force (FATF) decided last month to place Pakistan on a grey list of nations that are not doing enough to combat terror financing. Pakistan’s failure to comply may damage its reputation as an investment ... Read More »