(Ecofin Agency) - The Financial Action Task Force (FATF), an intergovernmental organization founded in 1989 by the G7 to fight money-laundering and terrorism financing, removed Angola from its blacklist of countries that lack an anti-money-laundering regulation meeting international standards.

The information disclosed on February 20 by Angola’s Central Bank states that FATF’s decision comes after Angola has implemented various reforms of which the setting up of a Financial Intelligence Unit to watch out for any unusual or suspicious financial activity.

Governor of National Bank of Angola, Jose Pedro de Morais, said the removal of Angola from the list of countries highly prone to money-laundering and terrorism financing will improve the country’s sovereign rating and financial institutions.