The upcoming Financial Action Task Force (FATF) plenary session 16-21 February will be crucial for both Pakistan and Iran as the anti-money laundering and anti-terrorist financing measures undertaken by the two countries will be reviewed by the 39 member states of the FATF. Decisions will be taken on their retention or removal from the grey list and black list respectively
Former Researcher, Geoeconomic Studies Programme and Manager, Research Office, Gateway House
Purvaja Modak was a Researcher for Geoeconomic Studies Programme and Manager for the Research Office at Gateway House. She was a fellow at the 2nd G20 Global Leadership Programme 2019, hosted by the Korean Development Institute (KDI) and the Korean Ministry of Strategy and Finance. She holds a Masters degree in Economics (MA) from the University of Mumbai with a focus on international trade, finance and regional monetary arrangements. She finished her Bachelors in Economics (BA) from Jai Hind College. Purvaja has previously held Research Assistant and Research Associate positions in her academic departments at both Bachelors and Masters levels. She has also interned at Reliable Investments, an exclusive franchisee of Motilal Oswal Securities Ltd.
Global governance, G20 and other multilaterals, International finance and trade.
Last modified: April 9, 2020
The services sector is the most dynamic in the global economy, constituting nearly 25% of global trade, but its intangibility – unlike the materiality of trade in goods – makes it difficult to monitor. Service providers in this sector need a national regulatory governing framework
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After the Pulwama attack of 14 February 2019, Pakistan has come under the international scanner for its support and financing of terrorist groups. At a meeting of the Financial Action Task Force (FATF) in Paris last week, it was pulled up for its inability to choke terrorist financing. This primer illustrates the role of the FATF in tackling terrorist financing and money-laundering, and studies its recent review of Pakistan
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Ten years after the global financial crisis, some reform has come about. To further transparency, the Legal Entity Identifier (LEI), proposed by the G20, is a code used to identify the parties that participate in financial transactions around the world. While its benefits and applications are abundant and will reduce systemic vulnerability, its global implementation is complex and slow. This primer shows why – and also why the LEI should be urgently and widely adopted
In a policy brief for Argentina's G20 Presidency in 2018, K.N. Vaidyanathan, Akshay Mathur and Purvaja Modak discuss the challenge and propose policy recommendations for transparency in cross-border financial transactions