A money laundering watchdog removes the UAE, Uganda, Barbados and Gibraltar from a watchlist
An international watchdog said Friday that it was removing the United Arab Emirates from its so-called gray list of countries that dont take full measures to combat money laundering and terrorism financing.The announcement was made by the Paris-based Financial Action Task Force following its meeting in the French capital.
![A money laundering watchdog removes the UAE, Uganda, Barbados and Gibraltar from a watchlist](https://devdiscourse.blob.core.windows.net/imagegallery/27_05_2019_11_51_19_0419949.jpg)
- Country:
- France
An international watchdog said Friday that it was removing the United Arab Emirates from its so-called gray list of countries that don't take full measures to combat money laundering and terrorism financing.
The announcement was made by the Paris-based Financial Action Task Force following its meeting in the French capital. The FATF welcomed the UAE's ''significant progress in improving" its anti-money laundering and counterterrorism financing policies.
Barbados, Gibraltar and Uganda will also be removed from the FATF's gray list, the watchdog said in a statement Friday following its plenary meetings.
They ''will no longer be subject to the FATF's increased monitoring process," the watchdog said in a statement.
Being on the watchdog's gray list can scare away investors and creditors, hurting exports, output and consumption. It also can make global banks wary of doing business with a country.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
ALSO READ
Champion’s Return: Vinesh Phogat Arrives Home After Paris Heartbreak
Muhammad Yunus Advocates Social Business Approach for Paris Olympics 2024
Neeraj Chopra Reflects on Silver at Paris Olympics: ‘I Couldn't Push Myself to My Extreme’
Paris St Germain Signs Midfielder Desire Doue
Vinesh Phogat Receives Heroic Homecoming After Paris Olympics Battle