Pakistan trade under pressure after terrorist financing warnings
26.02.2020 | Global Trade Review
Simon Cook was quoted in the article “Pakistan trade under pressure after terrorist financing warnings,” which was published in the Global Trade Review on February 26, 2020.
The article discusses the recent announcement by Financial Action Task Force (FATF) that Pakistan has failed to make a string of compulsory improvements to its crime-fighting controls. It outlines the cross-border trade and financial ramifications of Pakistan taking a step closer to being blacklisted by a highly influential global financial crime watchdog, upping the risks for banks financing trade to and from the South Asian country.
According to Simon, the potential for the country to be blacklisted – potentially as soon as June this year – carries even greater risk and that the threat alone could affect the ability of a borrower in Pakistan to obtain finance. He comments more broadly on the far-reaching negative impacts and uncertain future of countries that have been graylisted and blacklisted.