A global financial watchdog has removed Turkey from its “grey list” of countries with lapses in anti-money laundering and counterterrorism financing policies, in a boon to Ankara’s economic turnaround efforts.
Financial Times, June 28, 2024, by Adam Samson
The Financial Action Task Force unveiled on Friday its decision to remove Turkey from its list of jurisdictions requiring additional scrutiny, around three years after Turkey had been added to the list.
FATF’s move is a significant victory for finance minister Mehmet Şimşek, who has led a sweeping economic turnaround since his appointment following President Recep Tayyip Erdoğan’s re-election last May.
Şimşek has sought to court international investors who fled Turkey’s markets in recent years both by bolstering financial rules and regulations and also unwinding unorthodox policies that ignited a years-long economic crisis.