Pakistan remains on terrorism financing ‘grey list’ – global watchdog

Pakistan was given an extra four months to meet international anti-terrorism financing norms on Friday, after a global dirt money watchdog decided to keep the country off its blacklist for now.

Islamabad missed multiple previous deadlines, and the Financial Action Task Force (FATF) said it was concerned that the country had again failed to complete an internationally agreed action plan.

“The FATF strongly urges Pakistan to swiftly complete its full action plan by June 2020,” the watchdog said after a meeting in Paris. “Otherwise, should significant and sustainable progress – especially in prosecuting and penalizing [terrorism financing] – not be made by the next Plenary, the FATF will take action.”

Such action could include calling on its member states to order their financial institutions to pay particularly rigorous attention to business relations and transactions with Pakistani clients. Islamabad has long been accused of nurturing and supporting Islamist militant groups, but it denies the accusations, Reuters reported.