Mozambique’s removal from “grey list” is crucial for financial credibility

Maputo, 27 Oct (AIM) – The decision of the Financial Action Task Force (FATF) to remove Mozambique from the “grey list” is a crucial milestone for the country’s financial and reputational credibility, according to the Confederation of Mozambican Business Associations (CTA).

The “grey list” is officially known as “Jurisdictions under Increased Monitoring”, covering countries identified by the FATF as having strategic deficiencies in their measures to counter money laundering and the financing of terrorism.

Countries on this list are subject to increased monitoring and scrutiny by the FATF. The list is intended to serve as a warning to the countries concerned to improve their performance and comply with international standards.

Mozambique was removed from the “grey list” on Friday during a plenary session of the FATF, held in Paris. It had been included on the “grey list” in 2022.

In a statement, the CTA said it believes that removal from the grey list reflects international recognition of the progress Mozambique has made in strengthening mechanisms to combat money laundering and terrorist financing, following an intensive process of reforms implemented between 2022 and 2025.

“Among the main expected impacts, the measure will strengthen Mozambique’s international credibility and image in multilateral forums and transparency rankings; it will ease international financial transactions through improved correspondent banking relationships; and it wilç reduce external financing costs with more competitive interest rates”, reads the CTA note.

The organization also says that the measure will also make Mozambique more attractive for private investment, particularly in the productive and export areas as well as stimulating international economic cooperation and public-private partnerships.

The FATF decision, reads the document, “is the result of structural reforms implemented by the Government, in close coordination with the private sector and international partners, namely the strengthening of financial supervision and the enforcement of money laundering legislation.”

“Although this is a collective victory, the FATF recommended that the country maintain the pace of reforms, strengthening risk mapping and institutional coordination. In this sense, the CTA reaffirms its commitment to continue collaborating with the Government and international partners, ensuring that Mozambique consolidates this position and transforms this recognition into tangible results for the business community and the national economy”, reads the document.
(AIM)
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