Business
No relief yet for Pakistan as FATF keeps it on global grey list
The Financial Action Task Force (FATF) on Friday announced it would keep Pakistan on the grey list until at least February next year.
Speaking at a virtual press conference in Paris on Friday the anti-money laundering/terror financing watchdog’s president Marcus Pleyer said there were still conditions Pakistan needs to comply with before they can be removed from the grey list.
“Pakistan must comply with the remaining six items, then the FATF will send its onsite team to verify progress on the ground. After completion of this process, the FATF will consider Pakistan to be excluded from the list of jurisdictions with increased risk of terror financing that is called the grey list.”
Pleyer said although Pakistan has made progress in terms of carrying out reforms and implemented measures such as imposing sanctions against those financing terrorism, more still needed to be done.
The FATF plenary removed Iceland and Magnolia from the grey list. North Korea and Iran will remain on the blacklist.
Meanwhile, Pakistan’s Federal Minister for Industries Hammad Azhar said on Twitter: “FATF acknowledges that any blacklisting is off the table now. Pak has achieved impressive progress on its FATF action plan. 21 out of 27 action items now stand cleared. Remaining 6 rated as partially complete. Within a year, we progressed from 5/27 to 21/27 completed items.”
According to a statement issued by FATF Pakistan’s continued political commitment has led to progress in a number of areas including taking action to identify and sanction illegal MVTS, implementing cross-border currency and controls, improving international cooperation in terrorist financing cases and applying sanctions where necessary, among others.
The statement noted that Pakistan should continue to work on implementing its action plan to address its strategic deficiencies.
One area FATF said Pakistan needs to work on is to demonstrate effective implementation of targeted financial sanctions against all 1,267 and 1,373 designated terrorists and those acting for or on their behalf.
However, the FATF said it “takes note of the significant progress made on a number of action plan items. To date, Pakistan has made progress across all action plan items and has now largely addressed 21 of the 27 action items. As all action plan deadlines have expired, the FATF strongly urges Pakistan to swiftly complete its full action plan by February 2021.”
Business
Afghanistan-Kazakhstan banking ties discussed in Kabul meeting
Business
Afghanistan, Kazakhstan envoys discuss expanding trade and regional connectivity
Ambassador Shakeeb thanked Kazakhstan for its continued support and constructive engagement with Afghanistan, particularly in efforts aimed at peace and economic development.
Afghanistan’s Ambassador to Pakistan, Sardar Ahmad Shakeeb, has met with Kazakhstan’s Ambassador to Pakistan, Yerzhan Kistafin, to explore ways to strengthen bilateral relations and advance regional cooperation.
The two envoys exchanged views on Afghanistan–Kazakhstan ties, regional connectivity, and major infrastructure initiatives, as well as the opportunities and challenges facing regional trade. Discussions also touched on Kazakhstan’s role in promoting regional stability and other matters of mutual interest.
Ambassador Shakeeb thanked Kazakhstan for its continued support and constructive engagement with Afghanistan, particularly in efforts aimed at peace and economic development.
He expressed hope that the proposed $3 billion joint trade agreement, once finalized, would bring tangible benefits to both countries and contribute to broader regional economic integration.
Ambassador Kistafin reaffirmed Kazakhstan’s support for stability and economic growth in Afghanistan, highlighting his country’s involvement in key regional connectivity and trade projects.
He said the current security and stability situation in Afghanistan has increased Kazakhstan’s confidence in expanding regional trade and transit, and praised the efforts of the Islamic Emirate in this regard.
He also stressed the need for coordinated regional efforts to ensure lasting stability, sustainable economic development, and the smooth movement of goods and transit across the region.
Business
Mahirood Customs leads Iran’s exports to Afghanistan
More than 1.5 million tonnes of goods were exported to Afghanistan through the border crossing during this period.
Mahirood Customs in South Khorasan province has become Iran’s main export gateway to Afghanistan, accounting for 36 percent of the country’s total exports to its eastern neighbor, Iranian officials said.
South Khorasan Governor Seyed Mohammadreza Hashemi told local media that Mahirood ranked first among Iran’s 71 active customs points during the first eight months of the current Iranian year.
More than 1.5 million tonnes of goods were exported to Afghanistan through the border crossing during this period.
Official customs figures show that Iran’s total exports to Afghanistan exceeded 4.26 million tonnes in the first eight months of the year, with Mahirood handling the largest share, Hashemi said.
He attributed the strong performance to South Khorasan’s strategic location, improved border infrastructure, effective planning, close cooperation with traders, and coordinated efforts by government agencies.
Hashemi said the expansion of exports via Mahirood Customs is contributing to economic growth, job creation, and stronger economic diplomacy for the province.
He added that continued support for exporters and streamlined customs procedures could further increase South Khorasan’s share of the Afghan market and other target markets in the future.
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