FATF has geopolitical agendas

BlogsfinanceFATF has geopolitical agendas

Islamabad, Pakistan: The decision of the Financial Action Task Force (FATF) to keep Pakistan on the grey list has raised several questions that common Pakistanis are asking on social media while Foreign Minister Shah Mahmood Qureshi has also raised doubts over the functioning of the global terror financing watchdog.
Pakistanis at social media claim that FATF is a political Instrument having dual standards and Diplomacy of Duplicity
They claim that Switzerland has been a safe haven for Black / Laundered money for ages while Afghanistan is a land of money laundering but no action has been taken against such countries
It may be mentioned that 73 countries have no Anti Money Laundering laws while 26 countries allow all laundered money without question.
Why money laundering of Swiss Banks and Tax Havens never questioned? was a popular point of discussions among wholesales markets of Pakistan
“FATF like other international bodies created by the colonial powers alliance has geopolitical agendas rather than a technical entity,” commented Muhammad Aslam, a young banker from Islamabad
Aslam was of the view that in the absence of transparent Banking systems in Swiss Banks and elsewhere how is it possible for any country to meet the high-level requirements of the so-called FATF?
He claimed that Swiss Banks are charging 2% to keeping the mostly without question in their secret banking system and lending further for 4% and getting 6% for almost doing nothing.
It may be mentioned that the Foreign Minister of Pakistan believes that there was no room to keep Pakistan in the FATF grey list after it had implemented 26 out of 27 action plans.
Shah Mahmood Qureshi made it clear that whatever steps Pakistan had taken were in its own interests. He said it was in their interest to stop money laundering and terror financing.
It may be noted that following its virtual plenary, the FATF through recognized considerable progress made by Pakistan on the action plan and Islamabad’s high-level commitment but it yet decided to retain the status quo for Pakistan i.e. Countries in increased monitoring for the 2018 Terror Finance Action Plan for remaining one action plan item.

Must read

Recent News

Indian Visa Bumper Sale for Afghans

0
Monitoring Desk: After establishing a strategic partnership, India reopened the "e-Emergency X-Misc Visa" category for Afghans this week in Dubai so both countries can...
Hassan Niazi convicted for May 9 mutiny

Is there any legal justification to set up Judicial Commission on May 9 events...

0
Islamabad, Pakistan: There is a debate going on in journalistic circles about why the should government entertain the demand of PTI to set up...

The war against terrorism is ongoing and we would take it to its logical...

0
Peshawar, Pakistan: General Syed Asim Munir, Chief of Army Staff (COAS) has said that forces as well as the nation are sending a clear...

Syrian nursery of Jihadis, the proximity of Afghanistan may destabilize Central Asia, claims a...

0
Monitoring Desk: Syrian land has become a nursery for global terrorists for nurturing radicalization among Muslim youth and the presence of terrorists such as...

Feeder Bus #09 of Islamabad Metro Bus Service will run between Khanna Pul and...

0
Islamabad, Pakistan: Islamabad Bus Service Feeder Route #09 will now run from Khanna Pul to Golra Mor.Passengers from Expressway to Pothohar, Khayaban-e-Jauhar, Faiz Ahmed...
Advertisement