Did Turkey get off the gray list? Minister Şimşek's "We did it" post created a big impact.

The Minister of Treasury and Finance, Mehmet Şimşek, who is in Singapore to make a presentation on Turkey's status on the FATF Grey List, made a remarkable post on his social media account.

HAS TURKEY BEEN REMOVED FROM THE GREY LIST?

Bakan Şimşek's post with the Turkish flag emoji and the caption "We did it" was interpreted as Turkey's removal from the list of countries on the Financial Action Task Force (FATF) Grey List. Raja Kumar, the President of FATF, will hold a press conference today at 12:00 PM to announce the General Assembly results.

TURKEY WILL BE THE DESTINATION FOR INVESTMENT FUNDS

Due to legal regulations, a large portion of international investment funds cannot invest in countries on the grey list. It is expected that they will be able to invest in Turkey once it is removed from the list.

WE WERE ADDED TO THE LIST IN 2021

Turkey was added to the grey list in 2021. In February, FATF decided to visit Turkey to verify the successful completion of the country's action plan and the progress made in this regard. The statement used in the February 2024 General Assembly of FATF was: "FATF requests an on-site evaluation to confirm that Turkey has begun and is continuing to implement the reforms to prevent money laundering and combat the financing of terrorism, and that the necessary political commitment to sustain the implementation in the future remains in place."

More details are coming...