Pakistan lands on global terror watch list; after China withdraws objection
In a major jolt to neighboring Pakistan, the country has now been placed on a global watchdog’s terror-financing watch list.
The process had been initiated after a move in this regard by the United States of America.
Sources informed that the Financial Action Task Force (FATF) has decided to place Pakistan on its terrorist-financing list.
This would now enhance the level of scrutiny applied to the financial transactions that the country’s banking sector carries out with the rest of the world.
The resolution to place Pakistan on the so-called grey list went through after China and other Gulf Cooperation Council countries remained silent during the final rounds of negotiation.
The proposal had been backed by major democracies like Britain, France and Germany.
It remains to be seen why China and the GCC countries had dropped their opposition to the resolution.
Earlier, US media also reported that China, Saudi Arabia and Turkey — three close allies of Pakistan — had joined hands at FATF to block the resolution to place Islamabad on the grey list. >