http://dx.doi.org/10.31703/gpsrr.2023(VI-I).02
10.31703/gpsrr.2023(VI-I).02
Published : Dec 2023
Structural Changes in Pakistan's Financial System Post-FATF
This research work explores the profound structural changes undergone in the financial system of Pakistan in response to its topsy-turvy journey on the Financial Action Task Force (FATF) gray list. Beginning with an in-depth analysis of FATF's recommendations, the study also investigates the criticisms surrounding the FATF mechanism, including concerns about inconsistency, politicization, and potential geostrategic influences. The paper also highlights Pakistan's regulatory enhancements, legislative reforms, and adoption of a risk-based approach to combating the financing of terrorism and anti-money laundering measures. The pinnacle of this transformative process is the successful exit of Islamabad from the FATF gray list in October 20-21, 2022. This research contributes valuable insights into the dynamic relationship between national regulatory reforms, international financial governance, and the broader implications for the economic stability and global standing of the country.
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Money Laundering, Terror Financing, Gray List, Structural Reforms, Risk-based Approach
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(1) Nosherwan Adil
Lecturer, Department of International Relations, National University of Modern Languages (NUML), Islamabad, Pakistan.
(2) Noor-e-Hera
PhD Scholar, International Institute of Islamic Economics, International Islamic University, Islamabad, Pakistan.
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Cite this article
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APA : Adil, N., & Noor-e-Hera. (2023). Structural Changes in Pakistan's Financial System Post-FATF. Global Pakistan Studies Research Review, VI(I), 12-27. https://doi.org/10.31703/gpsrr.2023(VI-I).02
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CHICAGO : Adil, Nosherwan, and Noor-e-Hera. 2023. "Structural Changes in Pakistan's Financial System Post-FATF." Global Pakistan Studies Research Review, VI (I): 12-27 doi: 10.31703/gpsrr.2023(VI-I).02
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HARVARD : ADIL, N. & NOOR-E-HERA. 2023. Structural Changes in Pakistan's Financial System Post-FATF. Global Pakistan Studies Research Review, VI, 12-27.
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MHRA : Adil, Nosherwan, and Noor-e-Hera. 2023. "Structural Changes in Pakistan's Financial System Post-FATF." Global Pakistan Studies Research Review, VI: 12-27
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MLA : Adil, Nosherwan, and Noor-e-Hera. "Structural Changes in Pakistan's Financial System Post-FATF." Global Pakistan Studies Research Review, VI.I (2023): 12-27 Print.
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OXFORD : Adil, Nosherwan and Noor-e-Hera, (2023), "Structural Changes in Pakistan's Financial System Post-FATF", Global Pakistan Studies Research Review, VI (I), 12-27
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TURABIAN : Adil, Nosherwan, and Noor-e-Hera. "Structural Changes in Pakistan's Financial System Post-FATF." Global Pakistan Studies Research Review VI, no. I (2023): 12-27. https://doi.org/10.31703/gpsrr.2023(VI-I).02