Israel Becomes Permanent Member of Financial Action Task Force

Israel became a full member of the Financial Action Task Force (FATF), an international body set up to combat money laundering, terrorist financing and other threats to the international financial system.

The Jewish state has now taken its place alongside 37 other members including most of the G20, the world’s 20 leading industrialized and emerging economies just 16 years after being blacklisted by the organization.

Source- The Times of Israel
 
Static/Current Takeaways Important for IBPS Clerk Mains Exam 2018-
  • The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.
  • Israel Capital: Jerusalem, Currency: Israeli new shekel.