International Business: Finance watchdog ‘grey lists’ Turkey in threat to investment – Gulf Digital News

  • Date: 22-Oct-2021
  • Source: Gulf Daily News
  • Sector:Economy
  • Country:Gulf
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International Business: Finance watchdog ‘grey lists’ Turkey in threat to investment – Gulf Digital News

ISTANBUL: An international watchdog downgraded Turkey to a so-called grey list yesterday for failing to head off money laundering and terrorist financing, a decision that could further erode foreign investment after a years-long exodus.

The Financial Action Task Force (FATF), set up by the G7 group of advanced economies to protect the global financial system, also put Mali and Jordan on its increased monitoring list, known as “grey listing”.

Citing improvements, it took Botswana and Mauritius off the list, which now includes 23 countries.