Foreign Minister Nirmala Sitharaman meets former FATF Chairman T Raja Kumar ahead of ministerial roundtable with Singapore

New Delhi (India), August 26 (ANI): Finance Minister Nirmala Sitharaman has met former Financial Action Task Force (FATF) chairman T. Raja Kumar in Singapore, with the second round of the India-Singapore Ministerial Meeting (ISMR) set to begin on Monday.

The discussion highlighted the strong partnership between India and FATF, focusing on past cooperation and future strategies.

The Finance Ministry reached out to X and posted, “Union Finance Minister Smt. @nsitharaman met former FATF President Mr. T. Raja Kumar in Singapore today. Union Finance Minister congratulated Mr. Raja Kumar on completing a successful term as FATF President @FATFNews. FM Smt. @nsitharaman appreciated Mr. Raja Kumar for conducting FATF proceedings with integrity during the discussions and adoption of the Mutual Evaluation Report of India. They also exchanged views on the future of FATF and India’s role in FATF.” FM Sitharaman’s congratulation to Raja Kumar was a testimony to his leadership and constructive role he played during his tenure.

The FATF, an intergovernmental organization dedicated to combating money laundering and terrorist financing, has played a key role in shaping global financial regulation.

Adopted during Kumar’s presidency, India’s Mutual Evaluation Report is a document assessing the effectiveness of the country’s measures to combat money laundering and terrorism financing.

The meeting also provided a platform for discussions on the future direction of the FATF and India’s role in the organisation.

Given the changing global financial environment and emerging new challenges, India’s active participation in the FATF remains crucial to strengthening the international financial system.

The ISMR meeting, which begins today, aims to highlight the ongoing efforts of both countries to strengthen economic cooperation and jointly address global financial issues.

The India-Singapore Ministerial Round Table is expected to foster further dialogue and strategic partnerships between the two countries with a focus on mutual growth and development. (ANI)