Moody's evaluates Turkey's removal from the grey list

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 enhance Turkey's international reputation and 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.

Daoud noted that Turkey's removal from the FATF grey list is an indicator of the significant progress made by the government and various economic sectors in strengthening their efforts to combat money laundering and terrorist financing.

REMOVED FROM THE GREY LIST AFTER THE PLENARY

Daoud used the expression, "This development is expected to enhance Turkey's international reputation and potentially strengthen foreign investments and relations with European and US institutions."

Meanwhile, Turkey was removed from the FATF grey list following the FATF Plenary held under Singapore's presidency from June 23-28.

The Plenary congratulated Turkey and Jamaica, the two countries removed from the list after addressing the deficiencies identified during previous assessments regarding strategic anti-money laundering and countering the financing of terrorism (AML/CFT).

The FATF Plenary decided that Turkey and Jamaica will no longer be subject to the FATF's increased monitoring process.

Delegates representing over 200 governments and observer organizations, including the United Nations, the World Bank, the International Monetary Fund, INTERPOL, and the Egmont Group of Financial Intelligence Units, attended the week-long FATF Plenary meetings.

News Source: AA

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