New Delhi: India on Saturday welcomed a decision by the Financial Action Task Force (FATF) — a global inter-governmental body to combat terror financing — to put Pakistan on its “grey list” for monitoring by the FATF’s International Cooperation Review Group (ICRG).
Pakistan, in any case, has been high on the radar of the FATF for failing to fulfil its obligations to crack down on terror-financing.
At the FATF Third Plenary meeting organised under the Presidency of Spain in Valencia last year, Pakistan’s record had once again come under close scrutiny.
The FATF report then was understood to have virtually slammed continued complicity in Pakistan on financing terrorist entities.
Interestingly, Pakistan’s all-weather friend China is currently the vice-president of the FATF.
Speculation was rife in February this year at India and China may have reached an informal understanding on New Delhi agreeing to back Beijing for its election as vice-president of the FATF in return for China not opposing Pakistan’s inclusion in the FATF grey list.