Daily Current Affairs Dated On 22-Feb-2020
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Pakistan Retained in FATF’s Grey List Forex reserves rise to record $476 billion Scientists oppose study into ‘qualities’ of indigenous cows New solar energy park to come up in Rajasthan’s Jaisalmer Gurmukhi script Vivad se Vishwas Scheme
PAKISTAN RETAINED IN FATF’S GREY LIST Why in news? Pakistan has been retained on the “grey list” of the Financial Action Task Force (FATF) for another four months, with a stern warning from the global watchdog that met in Paris (February 19-21) to complete the 27-point action plan it has been given by June 2020 or face being put on the “black list”
What did the FATF tell? According to the FATF summary report released on Friday evening, Pakistan needs to continue to work on eight specific areas, including demonstrating it is “identifying and investigating” all terror financing activity in the country, freezing the funds of all designated terrorists and that its prosecutions result in “effective, proportionate and dissuasive sanctions” against all terror entities in Pakistan
What is FATF?
Financial Action Task Force on Money Laundering Is an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering In 2001 its mandate expanded to include terrorism financing.