Turkey was successfully removed from the money-laundering grey list by the Financial Action Task Force (FATF), a move that could enhance the country’s investment opportunities. The decision was announced during a meeting in Singapore, where FATF confirmed that Turkey, along with Jamaica, had met all the necessary requirements for removal from the list.
Under the leadership of President Recep Tayyip Erdogan, Turkey has shifted its economic and monetary policies towards attracting foreign direct investment and combating inflation. Finance Minister Mehmet Simsek and Interior Minister Ali Yerlikaya have been actively fighting organised crime, money laundering, and terrorism funding, resulting in the successful removal from the grey list.
The decision is expected to positively impact Turkey’s investment climate in the long term, attracting foreign investors who previously refrained from investing in countries on the grey list. According to sources, Turkey’s removal from the list could potentially lead to a significant increase in capital inflows, benefiting the country’s economy.
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