Jordan Exits FATF's "Gray List" Following Rigorous Anti-Money Laundering Measures
27/10/2023
(Petra) Amman
The Financial Action Task Force (FATF) has delisted Jordan from its "gray list" of countries requiring heightened scrutiny in anti-money laundering and counter-terrorist financing.
The decision was made during FATF's general assembly from October 23-27 in Paris.
Central Bank of Jordan's Governor, Adel Sharkas, who also chairs the National Committee for Combating Money Laundering and Terrorist Financing, represented the Kingdom at the assembly.
Sharkas emphasized that this development acknowledges Jordan's robust measures in fortifying its anti-money laundering and counter-terrorist financing systems, aligning them with global standards, and fully implementing FATF's action plan set in October 2021.
The Hashemite Kingdom of Jordan's government, Sharkas noted, attributes this achievement to the relentless efforts of the Central Bank of Jordan, the Anti-Money Laundering and Combating the Financing of Terrorism Unit, and other national entities.
The FATF experts' positive evaluation during their September 2023 field visit to Jordan further solidified the nation's standing. Highlighting Jordan's unwavering commitment, Sharkas reiterated the nation's pivotal role in global efforts against financial crimes that threaten countries' financial stability. He emphasized that the government's dedication to this cause extends beyond the "gray list" exit and will persistently address evolving challenges in this domain.
FATF member states lauded Jordan's endeavors, particularly its adherence to international standards and significant progress within stipulated timelines. The group also acknowledged the Kingdom's high-level political commitment. Before the delisting, an FATF expert team visited Jordan in September 2023 to assess the sustainability and effectiveness of the implemented measures. Prime Minister Bisher Khasawneh underscored during the visit that anti money laundering and counter-terrorist financing objectives are pivotal to the government's broader sustainable economic development vision.
He added that these goals, in line with the Royal Directives, have become integral to the government's strategy. FATF's Chairman, Raja Kumar, commended Jordan's progress and welcomed its enhanced policies to combat money laundering and terrorist financing.
The FATF, a global entity, sets international standards to combat money laundering, terrorist financing, and arms proliferation. Comprising 39 members, including major global players like the permanent members of the Security Council and most G-20 nations, it mandates countries to adopt and implement its standards to bolster international countermeasures against these financial threats.