Saudi Arabia becomes 1st Arab country to be granted full FATF membership

Saudi Arabia has become the 1st Arab country to be granted full membership of the Financial Action Task Force. It becomes the 39th member of FATF during the group’s Annual General Meeting in Orlando, Florida.

FATF is responsible for issuing international standards, policies and best practices to combat money laundering, terrorist financing and proliferation.

Source: The Arab News

Static/Current Takeaways Important For LIC AAO/ADO Mains:

  • President of FATF: Marshall Billingslea; Established in 1989.

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