Featured FATF to Decide on Pakistan’s Greylist Status This Month

[alibaz]

Why do you blame us for actions your government needs to change to quit allowing these organizations to have internal support. What does accountability mean to you?

Its not as simple as you are mentioning, things are politically motivated for maintaining arm twisting tool.

 

[Jackdaws]

Waste of everyone's time. Not enough votes to get Pak into Blacklist and not enough votes to get them out of Greylist. I guess only a progress report is due.

 

[Chakar The Great]

Pakistan needs to curb money laundering and digitalise transactions and its economy.


Its in Pakistan's own interest. We need to stop blaming others for our failures.

 

[Marker]

China voted to keep Pakistan in Grey list. To vote country out of it separate voting is required and considering it needs only 3 votes to turn down any move entire ball game is in the hands of US and its lackeys.
Govt has no choice but to implement it but as a matter of fact these laws will kill our economy as most of our economy is undocumented. We all know how US has a habit of arm twisting other Nations into submission and if that fails there is always invasion based on flimsy evidence of some fake WMD or chemical weapons. i highly doubt that FATF guidelines will result in any slow down in money laundering but it will definitely kill our economy in the long run.

I do not agree with your assertion about undocumented economy.

Even our Prophet saalah hu wasalm had instructed us to write about money or property transaction in presence of witnesses. Charity donations to madaris of Pakistan should also be documented. During the reign of Hazrat Umar Farooq razi Allah tala anhu, Bait-ul Maal was properly accounted for and this practice continued. How come Madaris administration could resist this tradition.

Documented economy will in fact help Pakistan to prosper.

In my opinion FATF ruling is a blessing in disguise. Now Pakistani financial Institutes will be able to track and monitor incoming and outgoing money transaction. Timely "corrective" actions could be taken. Money launderers and terrorist could be traced and "quarantined".

US and Western Countries do have documented economy, but they at state level hide some major transactions for their own "benefits". CIA, MI6 and Musaad have large hidden financial assets which they use to fund covert operations. Therefore they are also not "doodh ke dholae".

It is a fact that FATF ruling was a geo political pressure initiated by US and its allies to undermine CPEC. However, this ruling become a blessing for Pakistan.

 

[hussain0216]

FATF is entirely positive for PAKISTAN

It has forced us to introduce much needed laws to control financial transactions


I'm not sure why people see it so negatively


Even UAE has been placed on FATF watchlist for a year

Fulfilling FATF requirements is entirely in our interests

 

[CrazyZ]

Just gradually abandon the dollar and move to yuan reserve. Problem solved. World is moving toward a bifurcated financial and technology system any ways.

 

[Pandora]

I do not agree with your assertion about undocumented economy.

Even our Prophet saalah hu wasalm had instructed us to write about money or property transaction in presence of witnesses. Charity donations to madaris of Pakistan should also be documented. During the reign of Hazrat Umar Farooq razi Allah tala anhu, Bait-ul Maal was properly accounted for and this practice continued. How come Madaris administration could resist this tradition.

Documented economy will in fact help Pakistan to prosper.

In my opinion FATF ruling is a blessing in disguise. Now Pakistani financial Institutes will be able to track and monitor incoming and outgoing money transaction. Timely "corrective" actions could be taken. Money launderers and terrorist could be traced and "quarantined".

US and Western Countries do have documented economy, but they at state level hide some major transactions for their own "benefits". CIA, MI6 and Musaad have large hidden financial assets which they use to fund covert operations. Therefore they are also not "doodh ke dholae".

It is a fact that FATF ruling was a geo political pressure initiated by US and its allies to undermine CPEC. However, this ruling become a blessing for Pakistan.

Everything needs to be done on its own pace. Haphazard attempt of patch ups will ruin our economy. Take an example of Modis attempt at demonetization which imploded its economy and drove people to extreme poverty. I an not against documentation of economy but it needs to be a sustainable solution spread over 1-2 decades. If you challenge the status quo with any proper solution then system will simply break. FATF legislations should have been introduced slowly but rather under pressure from world powers we introduced them but what will follow is an unfriendly business environment as people will simply avoid further investment over fear of getting caught. Dont you think that money laundering safe heavens like switzerland, panama, british virgin islands need to be the first one to implement such regulation? Why impose such laws over a country like Pakistan already struggling with its economy? Even countries like UK and US have very lax laws for investors and they dont give a **** as long as money flows in their direction.

 

[Marker]

Everything needs to be done on its own pace. Haphazard attempt of patch ups will ruin our economy. Take an example of Modis attempt at demonetization which imploded its economy and drove people to extreme poverty. I an not against documentation of economy but it needs to be a sustainable solution spread over 1-2 decades. If you challenge the status quo with any proper solution then system will simply break. FATF legislations should have been introduced slowly but rather under pressure from world powers we introduced them but what will follow is an unfriendly business environment as people will simply avoid further investment over fear of getting caught. Dont you think that money laundering safe heavens like switzerland, panama, british virgin islands need to be the first one to implement such regulation? Why impose such laws over a country like Pakistan already struggling with its economy? Even countries like UK and US have very lax laws for investors and they dont give a **** as long as money flows in their direction.

Give some time to let the system gain maturity.

Let our economy shift to documented economy after 73 years.

As far as I know, due to FATF ruling no legislation was passed to restrict opening of new businesses and business related accounts. Financial documentations will actually assist businesses to play fairly in the Pakistani market.

First we should protect the wealth which we already have by stopping the money laundering. and If we are able to stop the outflow of our wealth, then that wealth can be re-invested in our local economy.

In-flow of money is another ball game (Most of It concerns with national security). Apart from foreign business investments, there are in-flows going to various NGOs, and madaris. These in-flows (NGOs and Madaris) should be documented, tracked, closely monitored and accounted for.

Do not quote US business laws and rules. Their tracking and monitoring system for business transactions is highly sophisticated, matured and very thorough. Even their citizens are being tracked through SSN!!!! As I sated in my previous post, the hiding of money transactions are at state level. Local businesses and individuals in US and other Western countries cannot hide such transactions, they will be caught and prosecuted.

 

[PradoTLC]

• FATF has nothing to do with the US doing this to you.
• It has 39 member countries; the country in-charge of this body is China.
• The rules have been in place for decades before CPEC came to be.
• There are other countries on that list.
• All countries know exactly what they need to do to get off it.
• The decisions to list a country on grey or blacklist is passed by an overwhelming majority consensus, and it allows for 3 countries at minimum to dissent to stop the process.

Everything else you wrote is truly immaterial to this process.

you really think the non black listed countries are clean?...

 

[PradoTLC]

Pakistan needs to curb money laundering and digitalise transactions and its economy.


Its in Pakistan's own interest. We need to stop blaming others for our failures.

The current gov is doing this.. only the opposition has issues

 

[RIP Pak LAW]

will stay on grey list but wont be blacklisted. Its boring issue now.

 

[Sheikh Rauf]

Excellent chip to blackmail country who been robbed by money laundering. i wish Pakistan actually can launch a hit squad who hunt any one who launder more than 100 thousands dollars from Pakistan.

 

[CriticalThought]

I am worried about the scenario where Pakistan gets off the grey list. Last time it happened during Nawaz's time, and we piled on a ton of debt after which we were sent back to the grey list. When Western puppets are governing the country, getting off the grey list shows some fundamental compromise to national interests. Our first priority should be to have honest, knowledgeable, intelligent, fearless, and diligent leadership of Army, Government, Judiciary, and bureaucracy. These guys would then need a long time to make things better from the top. They MUST NOT be imported from the West, rather they should have ascended the hierarchy organically within Pakistan.

Once such leaders assemble a team and start dealing will problems, Insha Allah everything will fall into place.

May Allah Subhanahu Wa Ta'aala make Pakistan and Pakistanis a true fortress of Islam and a source of strength for Islam and Muslims around the world, until the Day of Judgement. Aamen.

 

[tarrar]

FATF should be questioned on their method of working and method of gathering data. How could India so easily slip out of FATF watch with more than 40 Indian banks involved in money laundering and terror financing?

 

[SuvarnaTeja]

Pakistan will never get on the blacklist no matter what India tries. China has too much invested in Pakistan to let it get on the blacklist.

Even US does not want Pakistan to go into the black list as it will result in US losing leverage over Pakistan.

Pakistan will be kept in the grey list as long it is possible.