Lashkar-e-Taiba (LeT) co-founder Hafiz Saeed has been convicted by a Pakistani court in a terror-financing case. He has been sentenced to five years in jail and is convicted for the first time after his much-publicized arrest last year.
This conviction comes ahead of the Financial Action Task Force's, anti-terrorist financial body, crucial meeting which will decide the listing colour code of Pakistan.
Currently, Pakistan is on the grey list and Islamabad is trying to persuade the international community to remove Pak from the greylist. Greylist signifies that Pakistan is a country where terrorist groups can carry out activities and raise funds.
This affects foreign investment and loans from global financial institutions to Pakistan.
Hafiz led Lashkar-e-Taiba (LeT) is believed to have carried out the 2008 Mumbai terror attacks that killed over 160 people and left hundreds injured.