By Eleni Vasiliki Bampaliouta
The Financial Action Task Force (FATF/GAFI), based in Paris, has unanimously removed Morocco from the so-called “grey” list of countries under heightened surveillance, following an assessment of its national system’s compliance with the anti-money laundering international standards. This development comes after the FATF approved a special action plan for the Kingdom of Morocco in February 2021, according to a statement from the office of the head of the Moroccan government.
The decision of the FATF General Assembly comes, after the recent hostile actions towards Morocco, especially within the European Parliament, to cover the efforts and proactive actions of the country in the context of a good fiscal governance, in accordance with the royal directives, with the object of a series of legislative, organizational measures, as well as awareness and control measures, implemented by the competent national bodies and authorities under the coordination of the National Financial Information Authority and in cooperation with legal entities of public or private law.
According to Moroccan observers, the decision of this world-renowned organization is a response to all those who underestimate the efforts made by the North African country in various fields in order to achieve its development goals to the maximum extent possible.
Finally, Morocco’s exit from the gray list will positively affect the public debt and credit ratings of local banks, while it will strengthen the country’s image, its position in negotiations with international financial institutions, and the confidence of foreigners investors in the national economy.
- Victory for Morocco in the heart of Paris: the Financial Action Task Force (FATF) unanimously decided, at its meeting on Friday 24 February, in the context of its General Assembly, to remove Morocco from the gray zone.
- This new victory of the Kingdom is a clear answer to those who are moving within the European Parliament against Morocco and its interests, as well as to all those who refuse to accept that Morocco is progressing with a firm and decisive step on an irreversible path towards progress, transparency and good governance, thus standing out from neighboring countries trapped in outdated practices.
- The new FATF decision confirms Morocco’s leadership position, regionally and continentally, in terms of good fiscal governance, making it a model country in the field.
- The recognition of Morocco by this international economic body of reference is a strong response to its critics within the European Parliament, who are trying, unsuccessfully, to label it a pariah state.
- The exit of Morocco from the surveillance zone, known as the gray list, at the very moment when South Africa, a supporter of the Polisario terrorist and separatist entity, enters it, is significant and is the culmination of Morocco’s effort and proactive actions, pursuant to royal directives.
- Once again, an international reference institution applauds Morocco and its strategic, peaceful and proactive vision to adopt the highest possible standards in the fight against money laundering.
- The recognition of Morocco by the FATF in the heart of Paris is, ironically, an eloquent response to the French media that attacked Morocco with a journalistic line that served dark designs of another era.
- The FATF decision will strengthen the image and position of the Kingdom in its negotiations with international financial institutions, as well as the confidence of foreign investors in the national economy.
