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Placed On The Grey List, Pakistan Demands India’s Removal From FATF’s Joint Group To Ensure “Fair, Unbiased” Process
Pakistani Finance Ministe Asad Umar (@Dawn_com/Twitter)
Pakistan has asked the international terror financing watchdog, Financial Action Task Force (FATF), to remove India from the position of co-chair of its Asia-Pacific Joint Group, Pakistani Finance Ministry said on Saturday (9 March), reports Indian Express.
According to the report, Islamabad, which is currently place in the ‘grey list’ of the FATF, in recent months is trying to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations by the task force. The move could further hurt the already ailing economy of the Pakistan.
Pakistani Finance Minister Asad Umar, in a letter to FATF President Marshall Billingslea, has asked to appoint any member country other than India as co-chair of the Asia-Pacific Joint Group (APG) to “ensure that (the) FATF review process is fair, unbiased and objective”, the Pakistani finance ministry said in a statement.
As per the report, the APG is a sub-body of the FATF’s International Cooperation Review Group (ICRG) of the Asia-Pacific group. Pakistan is a member of the joint group and its case is being presented before the FATF by the APG. India’s Financial Intelligence Unit’s (FIU) director general is the co-chair of the joint group.
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