NewsThe Financial Action Task Force (FATF), the global policy setter on Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT), has delisted Sri Lanka from FATF’s Compliance Document which is more commonly identified as “the Grey List”. The decision was taken at the FATF Plenary held last week in Paris, the Central Bank (CB) said in a statement this week. The review team visited Sri Lanka during September 16-17 to assess the progress of implementation. The recommendations made by the review team on Sri Lanka’s progress were discussed at the FATF Plenary in October and all members have endorsed the decision to delist Sri Lanka from the Grey List. It is expected that the delisting by the FATF will have positive economic and financial impact on Sri Lanka.

Source: Sunday Times October 22, 2019 06:33 UTC