Indonesia Full Member of FATF, President: Increase Positive Perception of the Financial System

By : Nata Kesuma | Tuesday, November 07 2023 - 12:40 IWST

President Joko Widodo (Photo: BPMI Setpres)
President Joko Widodo (Photo: BPMI Setpres)

INDUSTRY co.idIndonesia has officially become a full member of the 40th Financial Action Task Force (FATF). This was conveyed by the President of the Republic of Indonesia Joko Widodo (Jokowi) in his press statement, at the Merdeka Palace, Jakarta, Monday (06/11/2023).

" Today I want to convey good news that as a result of the negotiations in Paris at the end of October, thank God, Indonesia was accepted by acclamation as a permanent member of the 40th Financial Action Task Force (FATF)," said the President.

FATF is an international organization focused on global efforts to eradicate money laundering, the financing of terrorism, and the financing of the proliferation of weapons of mass destruction. The President emphasized that FATF membership is important to increase positive perceptions of the financial system as well as confidence and trust in the investment climate in the country

"This membership is important to increase positive perceptions of the Indonesian financial system which will ultimately have an impact on increasing confidence, increasing Indonesian trust in the business side and investment climate," he said.

In his statement, President Jokowi also expressed his appreciation to the National Coordinating Committee for the Prevention and Eradication of Money Laundering and other key stakeholders for their hard work and commitment so that this could be realized.

"We hope that this will be the first step towards better governance of Indonesia's anti-money laundering regime and prevention of terrorist financing," he stressed.

In delivering a press statement, President Jokowi was accompanied by Minister of State Secretary (Mensesneg) Pratikno and Head of the Financial Transaction Reports and Analysis Center (PPATK) Ivan Yustiavandana. (FID/UN)

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