Four African Countries Exit “Grey List”: Which Countries Are They?

Lebanon Today

The “FATF”, based in Paris, announced its decision to remove South Africa, Nigeria, Mozambique and Burkina Faso from the gray list of countries subject to additional scrutiny in the field of combating money laundering and terrorist financing.

This decision came after a series of field visits conducted by the organization, which confirmed the remarkable progress made by these countries in addressing shortcomings and adhering to the required reforms within the specified timeframes.

The group explained that this exit from the gray list represents an improvement in the credibility of the financial and regulatory systems in these countries, which enhances the confidence of international institutions in their markets. However, it stressed the importance of continuous follow-up to ensure the sustainability of these reforms.

The African governments concerned welcomed this decision positively, considering it an important step towards strengthening their economies and financial credibility at the global level. The “FATF” indicated that the next stage requires maintaining the same pace of development to ensure that there is no return to strict monitoring.