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What does UAE's exclusion from the FATF "grey list" mean for the country's financial reputation?

FATF is to hold its next session during Feb 19 - 22, 2024 and among others topics, it is expected a resolution on amendment in the so called "grey" list of jurisdictions which FATF classifies as those who should be under increased monitoring over FATF with regard to anti-money laundering standards and practices.

It is strong expectation that UAE, included into such "grey" list back in March 2023, will be excluded from the list, currently having dozen of other jurisdictions. This should be a recognition of success of uncompromised actions demonstrated by the UAE regulatory authorities to make FATF standards implemented into local market practices.

What does that mean for the country financial reputation? For sure that will be a strong positive reputational effect for the local financial institutions, better opportunities for them and their clientele with regard to international settlements, relations with international markets and money market players.



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