FATF Experts to Assess Morocco’s Removal from “Grey List” on Monday

FATF To Send an Evaluation Team to Morocco

The Financial Action Task Force (FATF) will send a team to Morocco in the coming days to evaluate the measures implemented by the government of the Maghreb country to get off the ‘grey list’ of the organization. This was mentioned in a meeting between the Prime Minister, Aziz Ajanuch, and the president of the National Financial Intelligence Authority, Jawhar Nfissi.

At its last general assembly last October, the FATF decided to keep Morocco on the ‘grey list’ and agreed with Rabat on a field visit by its experts to evaluate the implementation of the action plan agreed in February 2021.

The evaluation of the FATF experts will determine Morocco’s removal from the organization’s ‘grey list’ at its next meeting.

The Prime Minister’s meeting focused on the 2021 annual report of the ANRF which highlighted an increase in suspicious transaction reports, national and international information requests, and appeals made to the competent judicial authorities.

The report also emphasized the efforts to improve the national anti-money laundering and terrorist financing system in accordance with international standards.

Morocco’s compliance with the FATF requirements could help it access the Flexible Credit Line (LCF) from the International Monetary Fund.

The governor of the Moroccan central bank, Abdelatif Jouahri, said that the approval of this line could be next March if Morocco clears the ‘grey list’.

Your email address will not be published. Required fields are marked *