Mauritius has come out of the ‘grey list’ of the Financial Action Task Force (FATF), an intergovernmental policy body that sets anti-money laundering standards. Now Turkey is on FATF Grey list.
After Mauritius was put on the grey list by FATF in February 2020, Reserve Bank of India (RBI) had blacklisted the tax haven and barred FDI from Mauritius into several non-banking finance companies (NBFCs).
With FATF rerating Mauritius, chances are that the country would exit the European Union blacklist. ET had reported on October 18 that Mauritius could be out of the grey list this month.
With Mauritius out of the grey list, it is also expected that now there would be less scrutiny by custodian banks on the ‘beneficial ownership’ (BO) of Mauritius vehicles coming in as FPI and FDI.
Categories: International Organizations