Sunday, October 25, 2020

China defends Pakistan’s progress on anti-money laundering fight


China on Friday said that Pakistan must not be vilified and pressured on the front of terror, after a global watchdog put the country on “grey list” of countries that finance terrorism.

China calls Pakistan its “best friend” and resolutely backs the country whenever it is slammed for funding and sheltering terrorists.

The Chinese Foreign Ministry said it won’t comment on the Financial Action Task Force’s (FATF) decision to put Pakistan on the “grey list” and counselled the world to see the efforts made by Islamabad in an “objective” way.

“We will not make comment on the decision of the task force. Pakistan has made enormous efforts for counterterrorism and made great sacrifice. The international community should view this in an objective, just way and should give more support and recognition to Pakistan,” ministry’s spokesperson Lu Kang said.

- Advertisement -

“Pakistan efforts in the counter terrorism have not only won recognition from China but also from many countries around the world. In recent years, it has taken positive measures to enhance financial regulations to combat terrorism financing and made very important progress,” Lu said.

“We hope all the relevant parties can view the efforts made by Pakistan on counter-terrorism in an objective way instead of accusing and pressuring it. China and Pakistan are all weather, strategic partners. China is willing to enhance counter terrorism cooperation with Pakistan.”

The FATF on Thursday put Islamabad on “grey list” for failing to rein in terrorists and funding to outfits like Lashkar-e-Taiba, Jamaat-ud-Dawa and Jaish-e-Mohammed.

Paris-based FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.

- Advertisement -

Chinese defence against its “all-weather” ally is not new. Beijing has invested over $50 billion in infrastructure projects in Pakistan, which are part of its ambitious Belt and Road programme.


Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Latest News

This Week

Spanish police arrests operator of Crypto Arbitrage firm Arbistar on fraud charges

The CEO of Arbistar the Spanish investment company, Santiago Fuentes, has been arrested and arraigned on charges of fraud, belonging to a criminal organization...

Fundraiser Elliott Broidy pleads guilty in foreign agent case linked to 1MDB

Major Republican Party and Trump fundraiser Elliott Broidy pleaded guilty Tuesday to acting as an unregistered foreign agent, admitting to accepting millions...

Brother of ex-Pakistan PM Nawaz Sharif jailed for money laundering

Pakistan Muslim League-Nawaz (PML-N) chief and Opposition Leader in the National Assembly Shehbaz Sharif was sent to jail on Tuesday in a money laundering...

Texas AG Ken Paxton fires second whistleblower who accused him of bribery

A second whistleblower has been fired from the Texas attorney general’s office after reporting his boss, Texas Attorney General Ken Paxton, to law enforcement for...

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks