India congratulates China on Financial Action Task Force post, hopes Beijing will be balanced

NEW DELHI: India today congratulated China for becoming the vice chair of the Financial Action Task Force (FATF), an international frame mandated to fight terror financing, and was hoping Beijing would "uphold and support" the objective of the watchdog in a balanced and function means.
In its plenary assembly in Paris on Friday, the FATF widely deliberated on tactics to fight terror financing and money-laundering but didn't put Pakistan on its world terror-financing watch listing. It gave Islamabad time till June to organize an motion plan in opposition to terror groups working from Pakistan.

"Congratulations to China on its election as Vice President of Financial Action Task Force at the #FATF plenary mtg. on 23 February 2018. We remain hopeful that China would uphold & support the objectives & standards of FATF in a balanced, objective, impartial & holistic way," MEA spokesperson Raveesh Kumar tweeted.



China, Pakistan's all-weather best friend, has many times blocked efforts by means of India, the USA and the United Kingdom within the UN to designate JeM leader Masood Azhar a terrorist.

The FATF, in a file on Friday, named 9 countries with "strategic deficiencies". Among the countries identified were Iraq, Syria, Yemen and Tunisia. Pakistan was once on FATF's "grey list" from 2012 to 2015.

The Financial Action Task Force (FATF) was once arrange in 1989 with the main purpose of setting standards to fight cash laundering, but in 2001 its mandate was once expanded to incorporate countering terror financing. It can take motion akin to monetary restrictions in opposition to any nation.


At the FATF plenary assembly, the USA and some of its European allies were in favour of hanging Pakistan on the listing of countries that financially fortify terrorism.


However, Pakistan has been given time till June to organize an motion plan to take action in opposition to terror groups working from its soil following which the FATF would take a decision on whether to name it on its terror-financing watch listing.


Pakistan's Interior Minister Ahsan Iqbal has said the FATF will make a decision in June whether to place Pakistan on the "grey list". The listing contains countries with strategic deficiencies that pose a chance to the world monetary machine.


The US holds that Pakistan isn't taking motion in opposition to terror groups such because the Haqqani community and the Taliban. Islamabad has denied the allegations.
India congratulates China on Financial Action Task Force post, hopes Beijing will be balanced India congratulates China on Financial Action Task Force post, hopes Beijing will be balanced Reviewed by kailash soni on February 25, 2018 Rating: 5
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