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FATF diktats will negatively impact Turkey-Pakistan relations: Expert




In a significant move, the Financial Action Task Force (FATF) Turkey alongside Mali and Jordan were added to the watchdog gray list in October. Last month Turkey joined Pakistan in the Financial Action Task Force (FATF) gray list.

Writing in the Policy Research Group, James Crickton, a London-based business consultant, said the FATF diktats and their fallout will have a negative impact on Turkish-Pakistani relations.

Crickton noted that relations have been forged with President Recep Tayyip Erdogan and Prime Minister Imran Khan, exchanging high-level state visits and working on ways to strengthen bilateral ties.

The global money laundering watchdog placed Turkey in October on its “gray list” for non-adherence to the United Nations sanctions regime, money laundering and the abuse of terrorist financing. Ankara reacted strongly, calling it unfair.

The gray list is not only a blow to Ankara, but also to its closest ally, Pakistan, which is developing a strategic relationship with Turkey under the leadership of its president Recep Tayyip Erdogan.

German FATF President Marcus Pleyer was more relevant in his post-plenary press meeting, saying Turkey needs to resolve “serious supervisory issues” in its banking and real estate sectors, as well as with traders in gold and precious stones.

“The FATF diktats and their fallout will have a negative impact on Turkish-Pakistani relations, although Ankara does not provide aid to Islamabad. and work on ways to strengthen bilateral relations. Crickton writes.

Crickton believes the situation could get worse for Turkey after the FATF graylist.

“All this outcry against India and Kashmir offers no windfall for either Pakistan or Turkey. With the FATF literally blowing its neck, the situation remains precarious for Pakistan. It could get worse for Turkey.” he writes.

(With entries from ANI)

Disclaimer: This article was posted automatically from an agency feed without any text changes and has not been reviewed by an editor

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