Elections for the five non-permanent members of the 15-nation Council for the 2021-22 term will be held around June next year.
The FATF statement comes in the backdrop of Indian authorities highlighting Pakistan's persistent support for terrorism and its funnelling of multilateral funds for arms procurement.
India will argue for Pakistan's return to the Financial Action Task Force (FATF) grey list due to its alleged failure to combat money laundering and terror financing. The move comes after recent tensions between the two countries following a terror attack in Pahalgam, India. India believes Pakistan has not adequately addressed the issue of terrorism emanating from its territory and has diverted funds from multilateral agencies towards arms purchases.
The five-day event, scheduled from July 18 to 22 at Kochi, Kerala, will be attended by Finance Minister Pranab Mukherjee, who will make the opening address on July 19, an official statement said.
As US President Joe Biden launched a new trade deal with 12 Indo-Pacific nations, including India, to enhance trade, economic and investment opportunities, China, which sees the pact as a threat to its dominance in the region, went on the offensive against it, promising more opening up, while the official media here termed it as "economic Nato".
The world should remain clear that Pakistan must continue to take 'credible, verifiable and irreversible' action against terrorism, India said after anti-money laundering watchdog Financial Action Task Force (FATF) removed the neighbouring country from its 'grey list'.
Significantly, for the first time, the FATF put Myanmar in the "high risk jurisdictions subject to a call for action", often referred to as the watchdog's black list.
Pakistan was put in the inglorious list in 2018 for its failure to check risk of money laundering, leading to corruption and terror financing.
Pakistan has been on the grey list of the Paris-based Financial Action Task Force since June 2018 for failing to check money laundering, leading to terror financing, and was given a plan of action to complete it by October 2019.
On 11 effectiveness parameters of terror financing and money laundering, Pakistan was adjudged as low on 10.
In the audio clip, he is heard directing the attack on Chabad House during Mumbai 26/11 terror attacks.
The Financial Action Task Force (FATF) on Friday retained Pakistan on its 'grey list' for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of United Nations-designated terror groups, including Hafiz Saeed and Masood Azhar.
A country required two-thirds majority of 124 to win a seat in the elections.
Pakistan will remain on the 'grey list' of the Financial Action Task Force (FATF) until it further demonstrates that action is being taken against Jamaat-ud-Dawah chief Hafiz Saeed and Jaish-e-Mohammed founder Masood Azhar who are listed as global terrorists by the United Nations, the global anti-money laundering and terror financing watchdog said on Thursday.
Aniruddha Rajput, 33, is among the 34 individuals elected by the General Assembly as members of the International Law Commission, the UN organ tasked with the progressive development of international law and its codification.
Chadha got 120 votes, the highest in the Asia Pacific group
Spicejet will raise Rs 530.76 crore or Rs 5.3 billion ($118.5 million) through issue of equity shares on preferential basis to various foreign and domestic investors.
If elected, it would be India's eighth term on the UN Security Council and this two-year tenure will start in January 2021.
The global agency said there are "serious deficiencies" on the part of the country in checking terror-financing and it lacks an effective system to deal with it.
"The FATF plenary decided continuation of Pakistan in 'Grey List' till its next meeting to be held in October," an official privy to the development told PTI.
The Paris-based global watchdog for curbing terror financing and money laundering will hold its virtual plenary session from October 21 to 23. It will review Pakistan's progress on the 27-point action plan.
The mandates which Pakistan has failed include action against all United Nations-designated terrorists like Jaish-e-Mohammed chief Azhar, Lashker-e-Tayiba founder Hafiz Saeed and the outfit's operational commander Zakiur Rehman Lakhvi.
Pakistan has improved its full compliance on only two of the 40 FATF recommendations, the APG report noted.
India has been maintaining that Pakistan extends regular support to terror groups like Lashkar-e-Taiba, Jaish-e-Mohammad and Hizbul Mujahideen, whose prime target is India, and has urged FATF to take action against Islamabad.
Pakistan failed to fulfil six of the 27 mandates so far as a result of which the country continues to be in the grey list of the FATF.
In a significant victory, India has been re-elected to the UN's main human rights body for the period of 2015-17, receiving the highest number of votes in the Asia-Pacific group.
The FATF warned Pakistan that if it doesn't complete a full action plan by June, it could lead to consequences on its businesses
Dr S Rajan, India's candidate to the Commission on the Limits of the Continental Shelf, was re-elected on Wednesday to the Commission for a five-year term from 2012-17 in a meeting of the State Parties to the United Nations Convention on the Law of the Sea. In the first round, Rajan obtained 112 of the 161 valid votes cast. The election was keenly contested in the Asia-Pacific group with eight candidates in the fray for five seats.
The 14th Annual Meeting of the Asia Pacific Group on Money Laundering and Annual Technical Assistance Forum concluded in Kochi on Friday with a resolve to strengthen efforts in this direction.
The US State Department, in its Congressional mandated annual Country Reports on Terrorism for the year 2018, on Friday said even though the Pakistani government voiced support for political reconciliation between the Afghan government and the Taliban, it did not restrict the terror group and the Haqqani Network from operating in Pakistan-based safe havens and threatening the US and Afghan forces in Afghanistan.
The five-day meeting, whose pre-plenary sessions began today, will provide a platform for high-level discussion and co-operation and would evaluate the progress by APG members in implementing the international standards to combat money laundering and the financing of terrorism, a statement said.
The newly-formed entity which will list on the NYSE as Eros STX Entertainment Corp, will remain listed on the New York Stock Exchange, with headquarters in both Mumbai, India, and Burbank, California, and has also got $125 million in fresh funding. The merger will not change the structure of Eros's Indian arm which is also listed on Indian stock exchanges.
The Chennai-based Shriram Group is likely to take over the cash-strapped front-end retail company of Vishal Retail Ltd, after leading private equity investor Texas Pacific Group takes charge of its wholesale division. This will be subject to approval from all stakeholders and regulators.
Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations.
R C Agarwal, promoter of beleaguered Vishal Retail, on Wednesday came out in support of the offer from Texas Pacific Group (TPG) in preference to that from Kishore Biyani's Future Group.
Hospital chain Fortis Healthcare on Thursday said it is acquiring 23.9 per cent stake in the Singapore-based healthcare firm Parkway Holdings for about $685.3 million (nearly Rs 3,100 crore).
This low-profile group has a knack for spotting people with an entrepreneurial streak and backing them profitably.
New Delhi's candidature was unanimously endorsed by the 55-member Asia-Pacific grouping, including China and Pakistan, in June last year.
Sources close to the development said the agreement between one of the private equity partners and the Patni brothers, who jointly hold 29 per cent stake, is expected to be signed next month.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances