ISLAMABAD: Pakistan is prepared to argue a persuasive case in its defense at the Financial Action Task Force (FATF) joint plenary in Paris this week to avoid inclusion on the international financial watchdog’s grey list of “jurisdictions with strategic anti-money laundering and combating the financing of terrorism (AML/CFT) deficiencies.”
The six-day plenary week began on June 24 with “delegates from the 203 jurisdictions of the FATF Global Network, as well as the UN, IMF, World Bank and other partners” and concludes on June 29.
Officials at the Ministry of Finance declined to comment to Arab News. The plenary rules prohibit participants from publicly divulging otherwise confidential information during sessions.
FATF, incepted in 1989, is a global anti-money laundering and terror finance prevention intergovernmental organization that holds sessions three times a year. It has 37 members and two observer countries.
Experts warn that Pakistan being placed on the grey list would carry a lot of repercussions.
“This will definitely be a serious matter. Already the stock exchange is being affected and declining. Our future borrowing will be suffering and interest rates will rise, making it more expensive,” Humayun Iqbal Shami, president of Pakistan Economic Forum, told Arab News. He doubts Pakistan will be able to satisfy the Western-influenced financial watchdog.
Pakistan has made efforts not be placed on FATF’s grey list, on which it previously remained for four years and was removed after compliance in 2015, said Dr. Vaqar Ahmed, joint executive director at Sustainable Development Policy Institute, to Arab News.
“We have implemented the most stringent regulations on the financial sector to meet or exceed FATF standards which have adversely affected banking customers, discouraged domestic and international investors, and inflow and outflow of funds,” he said.
Pakistan was previously able to withstand the impact of financial restrictions of FATF but the country’s debt rating fell from stable to “unsecure” last week on Moody’s Investors Service index, an international credit rating organization.
“Low reserves adequacy threatens continued access to external financing at moderate costs, in turn potentially raising government liquidity risks,” the agency wrote in a statement.
Under current circumstances, “the pressure becomes particularly acute if the country is facing pressures on the current account of the balance of payments as well as the local currency,” explained Ahmed.
Islamabad has made strides to comply with FATF statutes following the US co-sponsored motion in February this year, backed by Britain, France and Germany, which emphasized concerns about the depth of Pakistan’s commitment to tackle money laundering and terror financing.
Pakistan was unable to satisfy FATF then and subsequently the watchdog decided to place the country on its terror financing list from June if Pakistan could not counter illegal financial activities and seize assets of proscribed groups, entities, and individuals on a banned list from the UN Security Council (UNSC).
“We had to impose three restrictions as per the UNSC resolution” on proscribed entities and organizations, NACTA CFT Director Qaisar Ashfaq told Arab News. “Our compliance on arms embargo and travel restrictions were found to be satisfactory. However, freezing of assets, on which there were (serious) reservations, (is where) we had not done enough.”
Before FATF’s meeting in February, Pakistan initiated a seize, freeze and control operation against Jamaat-ud-Dawa and its charity wing Falah-e-Insaniat Foundation two days after President Mamnoon Hussain promulgated an amended Anti-terrorism Ordinance, 2018 to meet FATF requirements.
The previous government’s term ended and no legislation was passed in support of the ordinance, which later expired, that was to recognize the UNSC declarations.
The Securities and Exchange Commission of Pakistan in June compiled and passed new regulations on financial institutions in line with AML/CFT standards of FATF.
Pakistan prepared an action plan for review by FATF. The interim government, headed by caretaker Prime Minister Nasirul Mulk, held its first National Security Committee meeting in June to discuss FATF plenary and in a statement announced satisfaction over measures taken by Pakistan to meet the standards.
“In two months the country has taken concrete steps to meet FATF regulations. Pakistan has regulated the financial sector. But if this is politically motivated, Pakistan needs diplomatic backing from China, Saudi Arabia, and Turkey,” said Ahmed.
Pakistan optimistic about avoiding grey list as FATF meetings start
Pakistan optimistic about avoiding grey list as FATF meetings start
- Pakistan has made efforts not be placed on FATF’s gray list, on which it previously remained for four years
- The Securities and Exchange Commission of Pakistan in June compiled and passed new regulations on financial institutions in line with AML/CFT standards of FATF
Fighting between armed sectarian groups in restive northwestern Pakistan kills at least 33 people
- Senior police officer said Saturday armed men torched shops, houses and government property overnight
The overnight violence was the latest to rock Kurram, a district in Khyber Pakhtunkhwa province, and comes days after a deadly gun ambush killed 42 people.
Shiite Muslims make up about 15 percent of the 240 million people in Sunni-majority Pakistan, which has a history of sectarian animosity between the communities.
Although the two groups generally live together peacefully, tensions remain, especially in Kurram.
The senior police officer said armed men in Bagan and Bacha Kot torched shops, houses and government property.
Intense gunfire was ongoing between the Alizai and Bagan tribes in the Lower Kurram area.
“Educational institutions in Kurram are closed due to the severe tension. Both sides are targeting each other with heavy and automatic weapons,” said the officer, who spoke anonymously because he was not authorized to speak to the media.
Videos shared with The Associated Press showed a market engulfed by fire and orange flames piercing the night sky. Gunfire can also be heard.
The location of Thursday’s attack was also targeted by armed men, who marched on the area.
Survivors of the gun ambush said assailants emerged from a vehicle and sprayed buses and cars with bullets. Nobody has claimed responsibility for the attack and police have not identified a motive.
Dozens of people from the district’s Sunni and Shiite communities have been killed since July, when a land dispute erupted in Kurram that later turned into general sectarian violence.
Key UN committee adopts resolution paving the way for a first-ever treaty on crimes against humanity
Key UN committee adopts resolution paving the way for a first-ever treaty on crimes against humanity
- The International Criminal Court was established to punish major perpetrators of war crimes
- ICC has 124 countries that are parties to it
UNITED NATIONS: A key UN General Assembly committee adopted a resolution late Friday paving the way for negotiations on a first-ever treaty on preventing and punishing crimes against humanity after Russia dropped amendments that would have derailed the effort.
The resolution was approved by consensus by the assembly’s legal committee, which includes all 193-member UN nations, after tense last-minute negotiations between its supporters and Russia that dragged through the day.
There was loud applause when the chairman of the committee gaveled the resolution’s approval. It is virtually certain to be adopted when the General Assembly puts it to a final vote on Dec. 4.
“Today’s agreement to start up negotiations on a much-needed international treaty is a historic achievement that was a long time coming,” Richard Dicker, Human Rights Watch’s senior legal adviser for advocacy, told The Associated Press.
“It sends a crucial message that impunity for the kinds of crimes inflicted on civilians in Ethiopia, Sudan, Ukraine, southern Israel, Gaza and Myanmar will not go unheeded,” he said.
The resolution calls for a time-bound process with preparatory sessions in 2026 and 2027, and three-week negotiating sessions in 2028 and 2029 to finalize a treaty on crimes against humanity.
Dicker said Russia’s proposed amendments left in question whether treaty negotiations would have been completed.
Russia’s deputy UN ambassador Maria Zabolotskaya said Russia withdrew the amendments “in a spirit of compromise.” But she said Russia “dissociates itself from consensus.”
“This, of course, does not mean that we are not ready to work on this crucial convention,” Zabolotskaya told the committee.
The International Criminal Court was established to punish major perpetrators of war crimes, crimes against humanity and genocide and it has 124 countries that are parties to it. The ICC says crimes against humanity are committed as part of a large-scale attack on civilians and it lists 15 forms including murder, rape, imprisonment, enforced disappearances, sexual slavery, torture and deportation.
But the ICC does not have jurisdiction over nearly 70 other countries.
There are global treaties that cover war crimes, genocide and torture — but there has been no specific treaty addressing crimes against humanity. And according to sponsors of the resolution, led by Mexico and Gambia and backed by 96 other countries, a new treaty will fill the gap.
Kelly Adams, legal adviser at the Global Justice Center, also called the resolution “a historic breakthrough” after many delays.
Pointing to “the proliferation of crimes against humanity around the world,” she expressed hope that a treaty will be “strong, progressive and survivor-centric.”
Amnesty International’s Secretary General Agnes Callamard expressed disappointment that the timeline had been extended until 2029, but said, “What’s important is that this process will deliver a viable convention.”
“It is long overdue and all the more welcome at a time when too many states are intent on wrecking international law and universal standards,” she said. “It is a clear sign that states are ready to reinforce the international justice framework and clamp down on safe havens from investigation and prosecution for perpetrators of these heinous crimes.”
After the resolution’s adoption, Gambia’s Counselor Amadou Jaiteh, who had introduced it hours earlier, called its approval “a once-in-a-lifetime opportunity to make a difference,” to hope for a world without crimes against humanity, “and a world where voices of victims are heard louder than their perpetrators.”
Philippine VP made ‘active threat’ on Marcos’ life: palace
- The statement followed an expletive-laced press conference in which Duterte alleged she was the subject of an assassination plot
Manila: Philippine President Ferdinand Marcos’ security detail has been put on alert over what his office is calling an “active threat” against his life by Vice President Sara Duterte, the palace said Saturday.
The statement followed an expletive-laced press conference in which Duterte alleged she was the subject of an assassination plot and said she ordered a member of her security team to kill the president should it succeed.
The Duterte and Marcos families have seen their alliance unravel in spectacular fashion in recent months, trading accusations of drug addiction and increasingly extreme rhetoric ahead of next year’s mid-term elections and presidential polls in 2028.
“I already talked to a person in my security. I told him if I get killed, kill BBM (Ferdinand Marcos), (first lady) Liza Araneta and (the president’s cousin) Martin Romualdez. No joke,” Duterte said at a press conference that began after midnight.
“I said, if I die, don’t stop until you have killed them.”
Hours later, the palace communications office said it had referred “this active threat to the Presidential Security Command for immediate proper action.”
“Any threat to the life of the President must always be taken seriously, more so that this threat has been publicly revealed in clear and certain terms,” it said in a statement.
Duterte is facing the threat of impeachment in the House of Representatives, led by Marcos’s cousin Romualdez, who is widely expected to run for president in 2028.
She has also had a messy falling out with the president’s wife Liza Araneta-Marcos, who has accused her of laughing at a January event where her father, former president Rodrigo Duterte, accused Marcos of being a “drug addict.”
Duterte called her late-night press conference after House officials said they would transfer her chief of staff — detained after being cited for contempt — from the lower chamber’s detention center to a correctional facility.
Zuleika Lopez was detained on Wednesday after being accused of “undue interference” in House proceedings focused on Duterte’s spending of public funds.
Duterte stepped down from the cabinet post of education secretary in June as relations between the two families reached a breaking point.
Months earlier, her father had accused Marcos of being a “drug addict,” with the president the next day claiming his predecessor’s health was failing due to long-term use of the powerful opioid fentanyl.
Neither provided evidence of their allegations.
In October, Duterte said she felt “used” after teaming with Marcos for the May 2022 election, which they won by a landslide.
Duterte remains the constitutional successor to the 67-year-old president.
US restricts food, metal imports on Uyghur forced labor concerns
- Goods wholly or partially made by the sanctioned firms will be restricted from entering the US, says the Department of Homeland Security
- China is accused of incarcerating over 1 million Uyghurs and other Muslim minorities in Xinjiang, although officials strongly deny this
WASHINGTON: The United States said Friday that it is barring imports from dozens more China-based companies — ranging from businesses in the metals to food industries — citing worries over forced labor.
Officials are adding around 30 entities to the Uyghur Forced Labor Prevention Act entity list, meaning that goods wholly or partially made by these firms will be restricted from entering the United States.
The new additions bring the total number on the list to 107, said the Department of Homeland Security.
The reason is that the companies were found to either source materials from China’s northwestern Xinjiang region or work with its local government “to recruit, transfer, and receive workers, including Uyghurs, out of Xinjiang,” said the US Trade Representative’s office.
Beijing has been accused of incarcerating over one million Uyghurs and other Muslim minorities in a network of detention facilities in Xinjiang, although officials strongly deny this.
The newly-targeted companies make goods ranging from agricultural to aluminum products, along with polysilicon materials.
They also mine and process metals like copper, gold and nickel, the USTR statement added.
Among them are companies tied to Chinese electric vehicle battery manufacturer CATL and China-linked Gotion too, a bipartisan US congressional committee noted on Friday.
Earlier this year, the House Select Committee on the Chinese Communist Party and others flagged CATL and Gotion’s ties to two businesses, Xinjiang Nonferrous and Xinjiang Joinworld.
Both were included in the latest update.
The committee’s chairman John Moolenaar and other lawmakers released a statement saying: “While we are pleased with this initial step, we remain concerned that CATL and Gotion’s supply chains are deeply tied to the Xinjiang region.”
The rule comes into effect on November 25.
“Companies should not secure unfair advantages by exploiting workers,” said US Trade Representative Katherine Tai.
“We will enforce our laws to address forced labor and prevent companies that violate workers’ rights from benefiting from the US market,” she added in a statement.
The Uyghur Forced Labor Prevention Act was signed into law in 2021.
Trump plans to assemble investigative teams to look into 2020 election, Washington Post reports
WASHINGTON: US President-elect Donald Trump plans to assemble investigative teams at the Department of Justice to search for evidence in battleground states that fraud tainted the 2020 election, the Washington Post reported on Friday, citing a source.
Trump, who won the 2024 election but lost the 2020 election to President Joe Biden, has falsely claimed that he lost the 2020 election due to extensive voter fraud, a view shared by millions of his supporters.
Trump was indicted last year on federal charges for his attempts to overturn the election. The charges stemmed from an investigation by Special Counsel Jack Smith.
The Washington Post, citing two people close to Trump’s transition team, reported that Trump plans to fire the entire team that worked with Smith.
