Algeria Removed from FATF Grey List Following Unanimous Decision
BY Dr. Hana Saada
ALGIERS / PARIS — The Financial Action Task Force (FATF) on Friday unanimously approved the removal of Algeria from its grey list, marking the conclusion of the country’s period of enhanced monitoring over deficiencies related to anti-money laundering and counter-terrorism financing frameworks.
The decision was adopted during the FATF plenary meeting held in Paris and means that Algeria is no longer subject to the organisation’s increased monitoring process for jurisdictions working to address strategic shortcomings in their systems for combating money laundering, terrorist financing and related financial crimes.
The FATF, the global standard-setting body for anti-money laundering (AML) and counter-terrorist financing (CFT) measures, places countries on its grey list when it identifies strategic deficiencies requiring enhanced oversight and corrective action.
According to explanations provided by FATF members, the decision reflects the significant progress achieved by Algeria in strengthening its national framework for preventing and combating financial crime. The organisation noted that the reforms implemented by Algerian authorities have reinforced international confidence in the robustness and resilience of the country’s financial system.
FATF members further highlighted Algeria’s demonstrated political commitment to implementing the required reforms and aligning its regulatory and institutional framework with international standards on financial integrity and economic transparency.
Algeria has undertaken a series of legislative, regulatory and institutional measures in recent years aimed at enhancing its anti-money laundering and counter-terrorism financing architecture, including reforms designed to improve risk assessment mechanisms, strengthen financial supervision, and enhance inter-agency coordination.
The Algerian delegation participating in the Paris meeting was led by Finance Minister Abdelkrim Bouzred and included the Governor of the Bank of Algeria, Mohamed Lamine Lebbou.
Removal from the FATF grey list is expected to improve Algeria’s international financial standing by facilitating cross-border transactions, reducing compliance costs for financial institutions, and enhancing the country’s attractiveness to foreign investors and international partners.
The decision comes as Algeria seeks to accelerate economic diversification efforts, strengthen its investment climate and deepen its integration into the global financial system.
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