Turkey Removed from "Grey List": What Does It Mean?

On Friday, the Financial Action Task Force (FATF) lifted Turkey from its "grey list" of countries under special scrutiny, marking a boost for the country's economic transformation plan. The Paris-based organization stated that Turkey has made "significant progress" in enhancing its systems to combat money laundering and the financing of terrorism, and is no longer "subject to the increased monitoring processes of the FATF." Turkish Vice President Cevdet Yılmaz wrote on X platform, "With this development, the confidence of international investors in our country's financial system has strengthened." He added, "The decision will have very positive effects on our financial sector and our real economy."