Minister of Finance and Economy Ervin Mete announced today that Albania is taken off the grey list of the Financial Action Task Force on Money Laundering.

At the joint press conference with the mission of the International Monetary Fund in Albania, Mete stated that the Financial Action Task Force has taken the decision to remove Albania from the grey list, otherwise known as countries under more stringent monitoring.

“Good news for Albania. FATF has taken the decision to remove Albania from the grey list otherwise known as enhanced monitoring. The decision was taken today by the Plenary Assembly of FATF and is a result of the progress made by our country in implementation of the recommendations”, stated Mete.

According to him, this is a decision of several positive impacts, both in terms of reputation and in easing the costs of financial transactions in the banking system at home and abroad.

“It is an encouraging and motivating news for us to continue strengthening the fight against money laundering and terrorist financing, as well as to further fulfill the commitments undertaken with international partners”, stated the minister.

According to him, the discussions with the IMF mission during the last two weeks have been in the same spirit.

The mission of the International Monetary Fund has been present in Albania within the framework of Article IV.

Albania was put on the list of countries under stringent monitoring, or as it is otherwise known the grey list by the Financial Action Task Force, an intergovernmental organization established at the initiative of the G7 so that to develop policies to combat money laundering, the financing of terrorism and the financing of the weapons of mass destruction in 2020.