Afghanistan is out of international banking gray list

by Wadsam | June 24, 2017 9:08 am

The Financial Action Task Force (FATF) has finally removed Afghanistan from the international banking gray list after five years.

Afghanistan’s central bank, Da Afghanistan Bank (DAB), has managed to fulfill all FATA conditions in order to be removed from the list.

The country escaped FAFT’s blacklist in 2014 when outgoing President Hamid Karzai signed a package of anti-money-laundering laws the last minute.

But, Kabul was warned to make progress on implementing money laundering laws.  It was required to criminalize money laundering, trace terrorist money and track the cash flowing back and forth across the borders.

 

Source URL: http://wadsam.com/afghan-business-news/afghanistan-international-banking-gray-list-232/