The Saudi government said it regretted the decision in a statement published by the Saudi Press Agency, adding: “Saudi Arabia’s commitment to combating money laundering and the financing of terrorism is a strategic priority”. Panama said it should be removed from the list because it recently adopted stronger rules against money laundering. The bloc’s banks will have to carry out additional checks on payments involving entities from listed jurisdictions. The other listed states are Afghanistan, North Korea, Ethiopia, Iran, Iraq, Pakistan, Sri Lanka, Syria, Trinidad and Tobago, Tunisia and Yemen. The FATF list includes 12 jurisdictions - all on the EU blacklist - but excludes Saudi Arabia, Panama and US territories.

Source: Dhaka Tribune February 14, 2019 01:18 UTC