ISTANBUL – (EuropeNewswire.Net) -- Türkiye has been removed from the gray list, which it has been included in since October 2021, following the Financial Action Task Force (FATF) General Assembly held in Singapore. Important representatives of the business world welcomed the decision.

It is expected that foreign investors' capital flows to Türkiye will now accelerate.

BankPozitif chairman Dr Erkan Kork said there are no longer any obstacles to international investments and added: "We will see the positive effects of exiting the gray list in the short and medium term.

"As you know, most of the international investment funds could not invest in gray-listed countries due to legal regulations. With the decision taken, funds will now be able to invest in Türkiye. I believe that a serious capital flow will begin.

"I think there will also be an increase in company acquisition-merger processes. I expect the interest in TL assets to increase on the equity markets side."

Emphasising that the Turkish economy will improve with the decline in inflation in the second half of the year, Dr Kork said that being removed from the gray list will increase optimism in the economy.

Kork continued: "Türkiye has carried out important reforms so far to get out of the gray list. The next step is to reap the fruits of the work done.

"On 19 July, the international credit rating agency Moody's made an assessment of Türkiye. I expect the decision to be positively reflected in Moody's report.

"Our president Recep Tayyip Erdoğan has strong support for the economic management and this is very valuable. I congratulate the entire economic management, especially our minister of treasury and finance, Mehmet Şimşek, who made great efforts in making this decision."

The exit from the gray list means that Türkiye complies with financial regulations and international standards. It will also increase confidence in Turkey's reliability among international investors and financial institutions.


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