According to the declaration based on the ICRG report, Republic of Albania will no longer be part of the list of the countries under on-going monitoring for money laundering and financing of terrorism.
Published: 09 March 2015
The report, that was discussed during the ICRG meeting held in Paris on February 24-25, highlights the results of one year efforts. Albania has fully addressed all the deficiencies identified by FATF (Financial Action Task Force), the international body that monitors the implementation of the measures against money laundering and financing of terrorism worldwide. Member states of this group, have appreciated the efforts that Albania has undertaken in this regard. The report states that, Albania has addressed the relevant items in the action plan and “the implementation has started and is being supported by the government”. The report also indicates that Government officials “demonstrated a strong commitment for their obligation regarding both legal and financial matters, displaying a thorough understanding and solid awareness with respect to relevant obligations”.
Upon this decision Albania will no longer be part of the group of countries under on-going monitoring for money laundering and financing of terrorism.
This outcome is a logical result of the reforms undertaken during the last two years, creating a positive image for Albania not only towards international institutions but also foreign investors.
The strong commitment from the Albanian government vis a vis the achievements concerning the legal and financial sectors has increased the credibility of the country that leads to more investments both at the national and international level, and an upward trend of economic growth and employement indicators.