PARIS: Adviser to Prime Minister on Finance Dr Miftah Ismail arrived in Paris to plead its case at the ongoing session of the Financial Action Task Force (FATF) that is taking up a US-sponsored resolution to put Islamabad on a list of countries that financially aid terrorism.
The resolution to place Pakistan on FATF’s list is spearheaded by the US, with the support of Britain, France and Germany. The US has reportedly had concerns about the depth of Pakistan’s commitment to tackling money laundering and terror financing.
The Director General Financial Monitoring Unit, a joint secretary-level official of the Ministry of Finance and representatives from the State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP) were to represent the country.
Just a day before his departure for France, the adviser had returned from a weeklong visit of Europe where he had gone to convince the FATF member countries about the actions that Islamabad has taken to remain compliant with global anti-money laundering and counter terrorism financing regime.
The FATF is holding six-day-long meetings to discuss issues ‘to protect the integrity of the global financial system and contribute to safety and security’. The meetings involve more than 700 delegates from the 203 jurisdictions of the FATF Global Network, as well as the UN, IMF, World Bank and other partners.
The plenary meetings will take place from February 21 to 23 and will focus on counter-terrorism financing and proliferation financing. The US and the UK have moved a motion to place Pakistan on the FATF terrorist-financing watchlist. France and Germany are co-sponsoring the move.
