The Pakistani Prime Minister’s Advisor on Finance, Miftah Ismail confirmed Pakistan’s place in the Financial Action Task Force (FATF)’s watch-list, which is set to be released this June. The FATF’s grey list includes states that according to FATF standards lack effective regulations to combat terrorism financing. While China, Turkey, and Saudi Arabia initially resisted US pressure to add Pakistan to the list, China and Saudi Arabia during the final phase of FATF meetings lifted their objections to Pakistan’s inclusion.
Most shocking for Pakistan was perhaps China’s decision to withdraw support for its long-standing ally. China has previously, for the sake of its broader regional and international interests, kept confrontations with Pakistan on its policies and alleged inaction or slow action against terror groups, such as the Jamaat–ul–Dawa’s (JuD) and Jaish-e-Mohammad, behind closed doors.
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