Turkey was removed from the grey list of the Paris-based Financial Action Task Force (FATF) on Friday, June 28.
The announcement was made at the FATF plenary meeting in Singapore, which had been placed on the grey list in 2021 due to concerns of money laundering and terror financing.
The move is anticipated to enhance the country’s investment outlook.
Turkish officials are expressing their satisfaction with the recent decision, citing it as a positive step towards enhancing their international standing and potentially attracting new investment.
Taking to X, Turkish Finance Minister Mehmet Simsek wrote, “We did it.”
“With this development, international investors’ confidence in our country’s financial system has become even stronger. The decision will have extremely positive consequences for both our financial sector and our real sector,” Turkish Vice President Cevdet Yilmaz wrote on X.
He said that the exit from the gray list will accelerate international resource inflows and make Turkey’s borrowing costs more attractive.
“The increase in interest in Turkish lira assets due to the acceleration of capital flows to our country will also accelerate the disinflation process,” he added.
