Algeria’s Removal From FATF Grey List Sends ‘Positive Signal’ For National Economy, CREA Says
BY Dr. Hana Saada
ALGIERS – Algeria’s removal from the Financial Action Task Force (FATF) grey list represents a significant milestone for the country and sends a “positive signal” to the national economy, according to Kamel Moula, president of the Algerian Economic Renewal Council (CREA).
Speaking to the Algerian Press Service (APS), Moula said the decision reflects the progress made in strengthening financial transparency, improving governance standards and aligning Algeria’s financial system more closely with international regulatory requirements.
The CREA, which represents both public and private Algerian enterprises, views the development as an additional source of confidence for domestic economic operators and international partners, he said.
According to Moula, the decision is expected to enhance Algeria’s attractiveness as an investment destination, facilitate economic exchanges and contribute to the creation of a more favourable business environment.
He added that the move should encourage all economic stakeholders to intensify their efforts in supporting the country’s economic transformation and promoting sustainable growth based on trust, competitiveness and value creation.
Moula reaffirmed the CREA’s commitment to working alongside public authorities and national economic actors to help build a stronger, more open and internationally integrated economy.
The FATF’s decision to remove Algeria from its grey list follows the implementation of a series of measures aimed at strengthening the country’s anti-money laundering and counter-terrorism financing framework, a development that policymakers and business leaders expect will bolster confidence in Algeria’s financial system.
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