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Pakistan averts financial watchlist over militancy funding

Wed 21 Feb 2018, 16:13:45

ISLAMABAD: Pakistan has narrowly avoided being targeted by a global watchdog over terrorism financing, the foreign minister said, after reports that the US had supported a motion to place its ally on the group's watchlist.

Pakistan was granted a three-month reprieve by the Financial Action Task Force (FATF), according to a tweet late Tuesday by Khawaja Asif, after a meeting in Paris failed to reach agreement on the matter.

The reprieve comes a week after Pakistan quietly amended its anti-terror laws to ban groups listed as terrorists by the United

Nations.

Following the move, officials began seizing assets from Jamaat-ud-Dawa, whose leader Hafiz Saeed is a prime suspect in the 2008 Mumbai attacks.

Reports claimed earlier this month that the US had tabled the motion to add Pakistan to the FATF watchlist as ties fray over US accusations that Islamabad is providing safe haven to militants.

The move rattled officials and businesses across Pakistan, who fear any type of financial restrictions could crimp the country's economic prospects.

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