New Delhi:10/3:(odiannews):Pakistan has asked the Financial Action Task Force (FATF), an international terror financing watchdog, to remove India as co-chair of its Asia-Pacific Joint Group, the Finance Ministry said on Saturday.
Currently placed on the FATF’s ‘grey list’, Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations by the Paris-based FATF, a measure that officials here fear could further hurt its economy.
In a letter addressed to FATF President Marshall Billingslea, Pakistan Finance Minister Asad Umar asked him to appoint any other member country besides India as co-chair of the Asia-Pacific Joint Group “to ensure that (the) FATF review process is fair, unbiased and objective”, the finance ministry said in a statement. The Joint Group is a sub-body of the FATF’s International Cooperation Review Group (ICRG) of the Asia Pacific Group. Pakistan is a member of the APG and its case is being presented before the FATF by the APG. India’s Financial Intelligence Unit’s (FIU) director general is the co-chair of the Joint Group.