22nd February, 2020
There are indications of Iran being put on the blacklist of the FATF (Financial Action Task Force) if terrorist organizations do not follow the international norms for attacking the economy. Iran has already shied away from the international market due to US sanctions. FATF's blacklisting will add to its economic woes.
The decision will come after three years of warning
This decision will come after a warning given to Iran for the last three years. Earlier, the FATF has been persistently requesting Iran to abide by international agreements to stop the funding of terrorists. Transactions with banks and economic institutions that put Iran on the blacklist will be reviewed more rigorously. The activities of economic institutions related to Iran will be closely monitored. Pressure will be increased on Iran's banks and businesses.
Not to take steps against terrorists will have to suffer serious repercussions
A diplomat related to the western country said that the announcement of Iran being put on the blacklist could be made at any time on Friday. This would cause Iran to suffer serious consequences for not taking steps against the terrorists. He will lose the ability to borrow and will be on the verge of being out of the world economy. A diplomat from another western country has also confirmed the process of putting Iran on the blacklist. It is worth mentioning that since the US came out of the nuclear deal in 2018, the situation in Iran is continuously deteriorating.
Pakistan did not get relief, FATF retained in the gray list
A big decision regarding Pakistan was delivered at the FATF (Financial Action Task Force) plenary session meeting in Paris. FATF has retained Pakistan in the gray list. During this, Pakistan was asked to be kept on the FATF watch list for terrorist funding.
Significantly, to stop the flow of black money, including terrorist funding, the FATF, a body formed to enact a uniform rule law, is going on in Paris since last Sunday and its decision came out on Friday.