Libya Removed from Terror-Financing Watchlist

By John Lee.

The Financial Action Task Force (FATF) has reportedly removed Libya from its list of countries unable to fight money laundering and terrorism financing.

Xinhua quotes the Central Bank of Libya (CBL) as saying:

"[This] achievement means FATF's approval to Libya complying with all the requirements and obligations to combat money laundering and terrorism financing crimes, in accordance with international standards, which positively reflects the reputation of the Libyan state and enhances the confidence of international financial and economic institutions in the Libyan financial and banking institutions."

(Source: Xinhua)

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