Economy
Financial Action Task Force (FATF)
An international body that sets standards against money laundering and terrorist financing. Its assessments affect Lebanon's financial rating and its ties with international banks.
The Financial Action Task Force (FATF) is an intergovernmental organization founded in 1989 to set standards against money laundering and terrorist financing. It issues politically binding recommendations and assesses countries' compliance. It can place countries on grey or black lists, affecting their ability to attract investment and conduct banking. In Lebanon, FATF assessments are followed in the context of financial reforms and combating the financing of designated terrorist groups.
Written by AI and not yet reviewed by an editor.