Business world evaluated Turkey’s removal from FATF’s gray list


Lerato Khumalo

Turkish Exporters Assembly (TIM) Chairman Mustafa Gültepe stated that Turkey’s removal from the Financial Action Task Force’s (FATF) gray list will open new doors of opportunity for exporters and the business world.

Business world representatives evaluated FATF’s removal of Turkey from the grey list.

Mustafa Gültepe, in his statement, said, “Turkey’s inclusion in the gray list was one of the problems that eroded both our international trade and financial markets. Our exit from the list will open the doors of new opportunities for our exporters and business world.” he said.

Stating that the trust of international banks and financial institutions in Turkey will increase, Gültepe noted the following:

“Therefore, it will encourage foreign investments to direct our country by easing our financial transactions. The decision taken by the Financial Action Task Force is a turning point for our country’s economy. In this period when we need new investments within the framework of our 2028 export targets, the decision is of great importance for us. We are excited for new investment opportunities. “I hope that the decision will be beneficial for our country and our economy.”

Mahmut Asmalı, Chairman of the Independent Industrialists’ and Businessmen’s Association (MÜSİAD), said, “The transition to a more transparent and more open communication period in economic policies, especially after the new economic administration took office, has visibly increased the reliability of our country’s economy in the eyes of the international public.” he said.

Asmalı noted that Turkey’s CSD risk premium falling to its lowest level in the last four years, as well as the upward revisions of credit rating agencies, were the clearest signs of these developments, and continued as follows:

“In this context, the fact that FATF, operating under the OECD, has removed our country from the grey list has made us, as representatives of the Turkish business world, very happy. Our country, which is one of the few countries in the world, especially in terms of combating the financing of terrorism, has thus been saved from an unjust accusation. On this occasion, we would like to express our satisfaction as MUSIAD and the business world that justice has been served, albeit belatedly.”


Istanbul Chamber of Commerce (ITO) President Şekib Avdagiç also made a statement on the issue, saying, “Turkey is now in the place it deserves. It has been on a list where it should not have been for 2.5 years.”

Avdagiç said, “Our country’s exit from the FATF gray list will further strengthen our business and investment environment. FATF’s new due diligence, combined with the program and structural reforms determinedly implemented by our economic management, will open new doors in the global capital flow and business perspective. In addition, the international “It will also bring fresh confidence in financial institutions’ willingness to transact with Turkish companies.” made his assessment.

Orhan Aydın, Chairman of the Anatolian Lions Businessmen’s Association (ASKON), stated that thanks to the decisive steps taken recently, FATF removed Turkey from the grey list after 3 years, and that with this decision, Turkey’s hand will be strengthened in the international arena.

Noting that with this decision, the opportunity for international investment funds to invest in Turkey has been re-established, Aydın said, “In addition, this decision will have positive returns in cross-border transactions and loan provision. This will strengthen Turkey’s hand in the international arena. Our Minister of Treasury and Finance, Mehmet Şimşek, who contributed to this success.” “We congratulate the economic management and hope that their stable policies will continue until the desired economic data is obtained.” made his assessment.

United Brands Association (BMD) President Sinan Öncel stated that he considered Turkey’s removal from the gray list as a very important step for both brands and the country’s economy.

Emphasizing that this decision taken by FATF will increase confidence in the Turkish economy and the desire of international financial institutions to work with Turkish companies, Öncel said, “Removing our country from the list that it does not deserve will definitely contribute to the strengthening of the perception of our brands. It will pave the way for our brands to open up to the world with firm steps and to make new foreign partnerships.” “I hope the decision that opens it will be beneficial.” made his assessment.