Asad Umar writes to FATF to remove India from co-chair for Pakistan review

ISLAMABAD: Finance Minister Asad Umar has said that he has the Financial Action Task Force (FATF) president to remove India from the position of co-chair for the Pakistan FATF review.

Asad Umar took to Twitter saying, “India has blatantly abused its position by lobbying to get Pakistan blacklisted in the last review in Paris. We successfully defended our position Alhamdulillah.”

According to The News report Pakistan will have to demonstrate its compliance on 15 major conditions of the FATF till May 2019 in order to avoid falling into blacklist.

In addition to these 15 major demands for the May-related deadline, the FATF in its last plenary meeting held in Paris also included three more steps for review in coming May/June meeting including (1) revising/updating Pakistan’s national risk assessment on terror financing, (2) improving FBR’s customs report on cash couriers to curb currency smuggling and (3) placing inter agency cooperation mechanism among law enforcing agencies at federal and provincial levels.

So the FATF will gauge performance on total 18 points, including three above-mentioned, in the coming FATF meeting expected to be held in Colombo in June.