Financial Action Task Force (FATF) removes Turkiye from its ‘grey list’

The global financial watchdog, Financial Action Task Force (FATF), on Friday announced Turkiye’s removal from its “grey list” of countries that require special scrutiny, in a long-awaited decision that officials say will help accelerate foreign inflows.

“We succeeded,” Mehmet Simsek, Turkish Finance Minister, wrote, ahead of the announcement in a comment on social media platform X, followed by an emoji of the Turkish flag. Simsek was in Singapore to attend FATF’s plenary meeting.

Officials have repeatedly affirmed that Turkiye has completed necessary studies and should be delisted from the list, which includes countries the watchdog suggests have taken insufficient action to prevent money laundering and terrorist financing.

Turkish officials welcomed the move, which is seen as improving its international standing and potentially drawing in fresh investment.

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