Andrew
Online Reporter
ZIMBABWE will soon be removed from the grey list of countries with inadequacies in combating money laundering by the Finance Action Task Force (FATF), an official has said.
The development will help lower the costs of transacting internationally for players in the country.
The FATF placed the country on the grey list some years ago, which meant international transactions from the country were viewed with suspicion, making difficult to do business.
Speaking at a public lecture at the Harare Institute of Technology (HIT), Reserve Bank of Zimbabwe (RBZ) director general of the Financial Intelligence Unit (FIU), Mr Oliver Chiperesa, said the country will definitely be removed from the grey list this Friday.
“We are to get out of the FATF grey list, the pronouncement is going to be made on Friday whether we are out (of the grey list), which I can certainly say we are,” Mr Chiperesa said.
“However, it does not mean we have defeated money laundering in terms of financing; it simply means we have been able to put systems to detect, trace and detain it.
“It means we have put various defensive mechanism.”
Mr Chiperesa said being on the grey list had affected Zimbabwe’s economy as it was having difficulties in transacting without unnecessary scrutiny, which had affected the ease of doing business.
Online Reporter