Politics
Turkey removed from money laundering gray list as Erdogan steps up fight against illicit financing
Turkey was removed from the money laundering gray list by the Paris-based Financial Action Task Force (FATF) on Friday, a move that could improve the country's investment prospects.
In a statement at a meeting in Singapore, the FATF said Turkey along with Jamaica had been removed from the list after meeting the required conditions.
Since the presidential elections in May last year, the government of Turkish President Recep Tayyip Erdogan has made an about-face in its economic and monetary policy, moving from an unorthodox policy of low interest rates and high inflationary growth to a new orientation towards attracting foreign direct investment. investment and the fight against inflation.
Finance Minister Mehmet Simsek and new Interior Minister Ali Yerlikaya focused on combating organized crime, illicit money trade and terrorist financing.
Stay informed with MEE newsletters
Sign up to receive the latest alerts, information and analysis,
Let's start with Turkey Unpacked
The interior minister said in an official statement earlier this month that authorities had arrested more than 3,000 suspects and confiscated properties worth $3.2 billion in operations against organized crime in during the last year. The ministry also arrested 344 suspects who were the subject of Interpol arrest warrants.
The FATF said in February that it had determined that Turkey had substantially completed its action plan and merited an on-site assessment to verify implementation of reforms.
Sources told Middle East Eye that the on-site visit took place in May in a positive atmosphere, increasing the chances in Turkey's favour.
“This is Simsek's biggest achievement beyond his strict fiscal policy mandate,” said an economist working for an international investment banking firm, speaking on condition of anonymity due to restrictions imposed on exchanges with the media.
It was not easy to convince Parliament to ratify such atrocious legal amendments.
The economist told MEE that the removal of the grey list would not bring about an immediate change in the investment climate in Turkey. But it is a positive decision in the medium term for foreign direct investment and investments in Turkish stocks.
Many international companies and funds have a rule not to invest in countries on the gray list. This is important for long-term investors, the economist added.
A 2021 IMF report found that FATF greylisting could have a significant negative impact on a country's short-term capital inflows, potentially costing Turkey around $23 billion each year, according to calculations by the Financial Times.
There are about twenty countries on the grey list and are considered at risk by the FATF.
In February, the United Arab Emirates was removed from the list.
|
Sources 2/ https://www.middleeasteye.net/news/turkey-removed-financial-grey-list-fatf The mention sources can contact us to remove/changing this article |
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
 |
 |
 |
