Jakarta, The Gulf Observer: Indonesia has officially become the 40th permanent member of the Financial Action Task Force (FATF), President Joko Widodo (Jokowi) announced on Monday.
“I would like to convey good news as a result of the negotiations in Paris last October. Thank God, Indonesia was accepted by acclamation as the 40th permanent member of FATF,” he stated at the Merdeka Palace, Jakarta.
FATF is an international organization focused on global efforts to eradicate criminal acts of money laundering, terrorism financing, and funding the proliferation of weapons of mass destruction.
The president noted that Indonesia’s FATF membership is important to increase positive perceptions of the Indonesian financial system.
Increasing positive perceptions of Indonesia’s financial system will encourage confidence and trust in the business and investment climate in the country, he remarked.
“It is very important to increase positive perceptions towards the Indonesian financial system. It will help to boost confidence and trust in our business and investment climate, Jokowi remarked.
The head of state also lauded the National Coordinating Committee for the Prevention and Eradication of Money Laundering and other stakeholders for their hard work and commitment to realize Indonesia’s goal of becoming an FATF official member.
“We hope that this will be the first step towards better governance of Indonesia’s anti-money laundering regime and prevention of terrorist financing,” the president stated.
According to the official website of the Financial Transaction Reports and Analysis Center (PPATK), by joining as a permanent member of the FATF, Indonesia will be able to make a broad contribution to determine global strategic policies related to Anti-Money Laundering and Prevention of the Financing of Terrorism (APUPPT) that can further emphasize Indonesia’s position as a country with integrity and capable of actively contributing to the international arena.