Moody's: Removing Turkey from the gray list will increase foreign investments.

The Sector Practice Leader of international credit rating agency Moody's, Mohamed Daoud, stated that "This development is expected to enhance Turkey's reputation internationally, strengthen foreign investments, and potentially strengthen its relations with European and US institutions" regarding Turkey's removal from the Financial Action Task Force (FATF) grey list.

In a note shared with AA correspondent about Turkey's removal from the FATF grey list, Moody's included Daoud's evaluations. Daoud emphasized that Turkey's removal from the FATF grey list is an indication of the significant progress made by the government and various economic sectors in combating money laundering and financing terrorism.

"THIS DEVELOPMENT IS EXPECTED TO ENHANCE TURKEY'S REPUTATION INTERNATIONALLY"

Moody's Sector Practice Leader Daoud stated, "This development is expected to enhance Turkey's reputation internationally, strengthen foreign investments, and potentially strengthen its relations with European and US institutions."

WHAT HAPPENED?

Turkey was removed from the FATF grey list after the General Assembly held under the presidency of Singapore from 23-28 June. The General Assembly congratulated Turkey and Jamaica, the two countries removed from the list, for addressing the deficiencies identified during previous evaluations in the fight against money laundering and financing terrorism.

The FATF General Assembly decided that Turkey and Jamaica will no longer be subject to the FATF's enhanced follow-up process. The FATF General Assembly, which lasted for a week, was attended by delegates representing over 200 governments and observer organizations, including the United Nations, World Bank, International Monetary Fund, INTERPOL, and the Egmont Group of Financial Intelligence Units.