Moody's Sector Practice Lead Mohamed Daoud stated regarding Turkey's removal from the Financial Action Task Force (FATF) grey list: "This development is expected to potentially strengthen foreign investments and relations with European and US institutions."
In a note shared regarding Turkey's removal from the FATF grey list, Moody's included Daoud's assessments.
WHAT HAPPENED?
The FATF removed Turkey from its grey list following the General Assembly held under Singapore's presidency from June 23-28.
The FATF General Assembly decided that Turkey and Jamaica, another country removed from the list, will no longer be subject to the FATF's increased monitoring process.
Delegates representing over 200 governments and observer organizations, including the United Nations, World Bank, International Monetary Fund, INTERPOL, and the Egmont Group of Financial Intelligence Units, attended the week-long FATF General Assembly meetings.
News Source: 12punto
