FATF placed Tukey in the grey list for money laundering and abuse of terror financing along with Pakistan, which has been in the list for a long time,
Ankara: In a significant move, the Financial Action Task Force (FATF), Turkey, alongside Mali and Jordan, was added to the watchdog's grey list in October. Last Month, Turkey joined Pakistan in Financial Action Task Force's (FATF) grey list.
Writing in Policy Research Group, London-based business consultant James Crickton said that the FATF diktats and their fall-out would negatively impact Turkish-Pakistan relations.
Crickton noted that ties have burgeoned with President Recep Tayyip Erdogan and Prime Minister Imran Khan exchanging high-profile state visits and working on boosting bilateral relations.
The global money-laundering watchdog had placed Turkey in October in its "grey list" for non-adherence to the United Nations sanction regime, money laundering and abuse of terror financing. Ankara had reacted strongly, calling it unfair.
The greylisting is a blow to Ankara and its closest ally Pakistan, which is developing a strategic relationship with Turkey under its President Recep Tayyip Erdogan.
FATF President Marcus Pleyer of Germany was more to the point in his post-plenary press meet, saying Turkey needs to address "serious issues of supervision" in its banking and real estate sectors and with gold and precious stones dealers.
"The FATF diktats and their fall-out will have a negative impact on Turkish-Pakistan relations, although Ankara is not an aid-giver to Islamabad. Ties have burgeoned with President Recep Tayyip Erdogan and Prime Minister Imran Khan exchanging high-profile state visits and working on ways to boost bilateral ties." Crickton writes.
Crickton believes that the situation could get worse for Turkey after FATF's greylisting.
"All this India bashing and Kashmir outcry offers no manna either to Pakistan or Turkey. With the FATF breathing down its neck literally, the situation remains precarious for Pakistan. It could get worse for Turkey." he writes.