Pakistan In Gray List: Pakistan out of FATF's gray list, India expressed displeasure

On Wednesday 19 October, the Financial Action Task Force (FATF), a Paris-based organization that monitors terror financing, has taken Pakistan out of the gray list, due to which India has expressed strong displeasure. Expressing its displeasure, India said that it is a black spot in the fight against terrorism.

Kashmir's Lieutenant Governor Manoj Sinha has also commented on Pakistan's move to be left out of the FATF list. In a conversation with a private TV channel, he said that our neighbor is not happy with the peace in India. The world is watching which country is supporting terrorism. Our Ministry of External Affairs (MEA) is alert and takes appropriate action.

Pakistan was included in the gray list by FATF in June 2018. The FATF at that time considered terrorism to be a major threat to the world's financial system, including mis-funding, irregularities, lack of investigation, money laundering in non-governmental organizations. The FATF had earlier asked Pakistan to work on 27 points. After this these points were increased to 34 and then to 40. Pakistan is now eagerly waiting for the results of the discussions to be held in Paris.

Pakistan was listed in 2018 due to "strategic counter terrorist financing-related deficiencies". If Pakistan is removed from the gray list, then Pakistan will get a reputation and may also get a clean chit from the international community on terrorist financing.

Economist and former Citigroup banker Yusuf Nazar said that although it would have no impact on the country's struggling economy, it would help reduce scrutiny of global transactions involving Pakistan.

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