Protests outside FATF’s Paris office demanding Pakistan be added to ‘black list’

Outside the Financial Action Task Force (FATF) headquarters in Paris, France, "Terrorist Terrorist! Pakistan Pakistan!" slogans were heard on Saturday, as the expatriated Afghan, Uyghur, and Hong Kong communities residing in Paris conducted a demonstration calling the watchdog to blacklist Pakistan, ANI reported. Further, apart from them, a number of French individuals also joined the protest to show their support for the exiled dissidents.  

Banished Pakistani journalist Taha Siddiqui who has organised the protests, had released video footage on Twitter showing individuals carrying anti-Pakistan banners. According to Siddiqui, "Pakistan's role in money laundering globally, terror financing in the country and in neighbouring Pakistan, and its nexus with China that lobbies for Islamabad to be not held accountable are well known,” ANI reported.  

Pakistan would be added to FATF 'blacklist': Analysts

In addition to this, analysts have predicted that Pakistan would be added to the worldwide anti-terror funding and anti-money laundering watchdog's 'black list' for non-compliance before the FATF Plenary and Working Group Meetings in Paris. Since June 2018, Pakistan has been on the FATF's ‘grey list’ for the shortcomings in its counter-terrorist funding and anti-money laundering policies. It is worth noting that Pakistan's imports, exports, remittances, as well as access to foreign credit have all been harmed as a result of the grey-listing. 

Further, previously in the month of October 2021, the FATF had confirmed that Pakistan will stay on its 'grey list' until April 2022. As per media reports, t This conclusion was decided in the three-day plenary session of the Financial Action Task Force. The global financial watchdog stated in its 'High-Risk Jurisdictions Subject to a Call for Action' paper that Islamabad needs to address its 'other strategically important AML/CFT deficiencies.' 

Pakistani government policies may have breached FATF rules: Analysis

According to ANI, the Prime Minister of Pakistan, Imran Khan has been pushing for the removal of the nation from the FATF's grey-listing since taking office but has failed to do so. Analysts believe that the Pakistani administration has failed to act against terrorist groups. On the contrary, it has given in to Islamist groups like the Tehreek-e-Taliban Pakistan (TTP).  

Furthermore, Global Strat View asserted in an analysis paper that Pakistani government policies may have breached FATF rules. The Pakistani economist Dr Naafey Sardar was quoted in the paper, “If the FATF puts Pakistan on the 'black list,' economic penalties and other restrictive measures will be imposed.” According to him, this would be a major setback for Pakistan's suffering economy, which has seen a $38 billion drop in GDP from 2008 to 2019 as a consequence of the FATF's grey-listing, ANI reported.

Moreover, there are significant indications that it might be placed on the 'black list,' as per Global Strat View. 

(With ANI Inputs) 

Image: AP/Representative Image