CBL hails Libya’s removal from FATF terror-financing watch list

By Sami Zaptia.

The Financial Action Task Force (FATF) has removed Libya from its blacklist of countries financing terrorism (Photo: FATF).

The Financial Action Task Force (FATF) has removed Libya from its blacklist of countries financing terrorism and money laundering (Photo: FATF).

London, 23 February 2018:

The Central Bank of Libya (CBL) congratulated Faiez Serraj, head of the Presidency Council and his GNA Minister of Justice for their efforts which culminated in removing Libya from the list of ‘non cooperative countries and territories’ on the FATF financing of terrorism blacklist.

The bank said the decision by the Financial Action Task Force (FATF) to remove Libya from the non-coopering countries list will have positive impact and reinforces confidence of international economic and financial institutions in Libya’s financial and banking institutions.

The decision indicates that FATF recognizes Libya’s compliance with international standards for fighting money laundering and financing of terrorism, the CBL said.

Libya has been placed on the FATF list in 2015.

FATF is a Paris-based intergovernmental organization established in 1989 to develop policies to combat money laundering and terrorism financing internationally.

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