Finance Minister Nirmala Sitharaman met former Financial Action Task Force (FATF) President T Raja Kumar in Singapore as the second round of the India-Singapore Ministerial Roundtable (ISMR) is set to begin on Monday.
The discussion highlighted the strong partnership between India and the FATF, focusing on past collaborations and future strategies.
The Ministry of Finance took to X and posted, “Union Finance Minister Smt. @nsitharaman met former FATF President Mr. T. Raja Kumar, in Singapore, today. The Union Finance Minister congratulated Mr. Raja Kumar for completing a successful tenure as the President of FATF @FATFNews . FM Smt. @nsitharaman appreciated Mr. Raja Kumar for his fair conduct of FATF proceedings during discussions and adoption of India’s Mutual Evaluation Report. They also exchanged views about the future of FATF and India’s role in the FATF.”
Union Finance Minister Smt. @nsitharaman met former FATF President Mr. T. Raja Kumar, in Singapore, today.
— Ministry of Finance (@FinMinIndia) August 26, 2024
The Union Finance Minister congratulated Mr. Raja Kumar for completing a successful tenure as the President of FATF @FATFNews.
FM Smt. @nsitharaman appreciated Mr. Raja… pic.twitter.com/XGRfDs3Khy
FM Sitharaman’s congratulatory message to Raja Kumar was a testament to his leadership and the constructive role he played during his tenure.
The FATF, an intergovernmental organization aimed at combating money laundering and terrorist financing, has been instrumental in shaping global financial regulations.
India’s Mutual Evaluation Report, which was adopted under Kumar’s presidency, is a document assessing the effectiveness of the country’s anti-money laundering and counter-terrorism financing measures.
The meeting also served as a platform for discussing the future direction of the FATF and India’s role within the organization.
With evolving global financial landscapes and emerging challenges, India’s active participation in the FATF remains pivotal in strengthening international financial systems.
As the ISMR begins today, this meeting highlights the ongoing efforts of both nations to enhance their economic cooperation and address global financial issues collaboratively.
The India-Singapore Ministerial Roundtable is expected to foster further dialogue and strategic partnerships between the two countries, with a focus on mutual growth and development.
