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Algeria Exits FATF Grey List, Boosting National Economy Hopes
🇩🇿 Algeria /Economy & Trade

Algeria Exits FATF Grey List, Boosting National Economy Hopes

From El Watan · () French

Translated from French, summarized and contextualized by DistantNews.

At a glance

News Named sources Outcome reported
  • Algeria has been removed from the Financial Action Task Force's (FATF) grey list, a move expected to benefit the national economy.
  • Business organizations and economists anticipate positive repercussions from this delisting.
  • The removal marks a significant step for Algeria's financial architecture, according to the President of the Algerian Economic Renewal Council.

Algeria's exit from the Financial Action Task Force's (FATF) grey list is poised to bring significant benefits to the national economy, according to business leaders and economists. Kamel Moula, president of the Algerian Economic Renewal Council (CREA), hailed the decision as a crucial step forward.

The FATF, which combats money laundering and terrorist financing, had placed Algeria on its grey list in October 2024. Its removal, formalized during a plenary session in Paris, signifies a major development for the country's financial system. This delisting is expected to enhance Algeria's international financial standing and attract foreign investment.

The exit from the grey list is a reconquest, staying on it is a collective responsibility.

— Dr Mohamed YahiaouiPresident of the national council of the National Chamber of Auditors (CNCC), commenting on Algeria's delisting from the FATF grey list.

Business organizations and economists widely agree that this move will have positive repercussions. The improved financial reputation is anticipated to facilitate international trade and investment, thereby boosting economic growth. The government has emphasized its commitment to maintaining these standards to ensure sustained economic stability and development.

This decision is an important step.

— Kamel MoulaPresident of the Algerian Economic Renewal Council (CREA), on Algeria's removal from the FATF grey list.
DistantNews Editorial

Originally published by El Watan in French. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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