India will push the Financial Action Task Force (FATF), a global financial crime watchdog, to add arch-rival Pakistan to its “grey list”, a top government source in New Delhi said on Friday

Pakistan was taken off the FATF grey list in 2022, boosting its reputation among lenders, which is essential for the crisis-hit economy.

The international money-laundering watchdog put Pakistan on its so-called grey list in June 2018, after Islamabad failed to implement policies aimed at stamping out money laundering and the financing of international terror groups.

Moreover, on September 19, 2024, the FATF watchdog stated that India’s money laundering risks originate from illegal activities within the country.

Also, last year on August 22, Prime Minister Shehbaz Sharif stated that the Buna-Raast connectivity project has the potential to accelerate the development of a wider regional payment system.

He also stated that this project can put Pakistan on a sustainable path and help the country maintain compliance with FATF standards.

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