ISTANBUL (Reuters) – Turkish Finance Minister Mehmet Simsek will speak at Financial Action Task Force meeting in Singapore, Turkish state media said on Thursday, ahead of a decision by the international crime watchdog on whether to remove Turkey from a “grey list”.
A decision to remove Turkey from this “grey list” of countries and territories that require increased scrutiny would be a boost to its economic turnaround plan, after the FATF task force downgraded the country’s status in 2021 over concerns about money laundering and terrorist financing.
Turkish officials have said that they expect Turkey to be removed from the grey list, having said that any other decision would be politically motivated.
Turkey’s state-owned Anadolu news agency on Thursday cited Treasury sources as saying that Simsek planned to attend the FATF meeting and make a speech, as well as hold talks with investors and Singapore’s prime minister and president during the two-day visit.
A Turkish Treasury source had previously told Reuters that Simsek would attend the FATF meeting.
In a statement in February, the FATF said that Turkey “has substantially completed its action plan” and warranted an on-site assessment.
A delegation from the FATF visited Turkey last month to evaluate Turkey’s actions to prevent money laundering and illegal financing.
This post is originally published on INVESTING.
