WORLD FINANCIAL SYSTEM AND FATF: SUSTAINABILITY VS CONTROL

We are living in difficult times from both financial and environmental perspectives. The world has to face financial depression after short intervals which cost the wastage of heavy resources as well as affects the lives of many. In the same way, the world is facing a huge problem in the shape of climate change. Developed countries that are more responsible for high carbon emissions need to go green and allocate more resources towards clean and renewable energy not only in their own countries but also in developing countries. Climate change is not a problem of the west or east, it's a global issue now. If wealthy countries do not realize this fact and do not invest in clean and green projects worldwide then the world will be facing more and more hurricanes, wildfires, and floods as the years go by.

Both economic and environmental systems are deeply interconnected so the financial system must be drafted in such a way that resources creation, distribution, and utilization is optimized which resultantly creates a sustainable and healthy world.

In this book, I have discussed the sustainable international financial system which should complement the world ecosystem, a system that creates equal opportunities and generate equitable resources for everyone around the globe. A financial that should help the deprived ones who are losing hope and dying from hunger. I have critically analyzed the role of FATF as a watchdog of the international financial system. My analysis is based on the facts and I tried to fetch data of reputed and authenticated sources. I have discussed deficiencies in the FATF approach by analyzing its approach and evaluation ratings. I have suggested the real areas still need to be addressed by the FATF. I will be more than happy to correct any mistake highlighted by the readers of the book.