Morocco's removal from the Financial Action Task Force's (FATF) greylist on money laundering and terrorist financing is the crowning achievement of the Kingdom's efforts and proactive actions to strengthen its local legal arsenal.

In recent years, Morocco has been keen to strengthen its legal arsenal in the fight against money laundering. In this sense, several draft laws have been adopted, while the country's institutions have strengthened the mechanisms designed to prevent such practices.

This major step forward will also strengthen Morocco's trade opportunities, upgrade in ratings and prosperous economy. 

The FATF was founded in 1989 as an intergovernmental organisation under the ambit of the G7. It develops policies designed to combat international money laundering. In 2001, its focus was expanded to include measures identifying and combating the financing of regional and global terrorism. The 39-member organisation also designs and monitors due diligence frameworks intended to prevent funding of activities as diverse as the illicit arms trade, cyber fraud, and the drug trade.

This decision confirms the right choices made in terms of economic policy and the relevance of the measures taken in terms of governance and fiscal transparency, in accordance with international standards.

By joining the very small club of countries that have demonstrated positive developments in their tax laws and practices, Morocco strengthens its attractiveness and reassures investors of the soundness of its legislation and taxation.

The Financial Action Task Force (FATF) has decided, unanimously by its members, to remove Morocco from the grey list, during the FATF General Assembly, held in Paris on February 20-24, 2023.

This FATF's decision comes after the positive conclusions contained in the report of the group's experts, issued at the end of the field visit undertaken in Morocco on January 16-18, 2023.

Overall, the FATF's decision to remove Morocco from its Grey List is welcoming news and will boost Morocco's rating in the world.