Singapore: Finance Minister Nirmala Sitharaman met with T Raja Kumar, the former President of the Financial Action Task Force (FATF), in Singapore. This meeting comes as the second round of the India-Singapore Ministerial Roundtable (ISMR) is set to begin on Monday.

The discussion centered on the strong relationship between India and the FATF, reviewing past collaborations and exploring future strategies. The Ministry of Finance highlighted the meeting on social media, expressing appreciation for Raja Kumar's leadership during his term as FATF President. The Finance Minister praised his fair management of FATF proceedings, including the adoption of India's Mutual Evaluation Report.

The FATF is an international body focused on combating money laundering and terrorist financing, playing a crucial role in shaping global financial regulations. India's Mutual Evaluation Report, which was endorsed during Kumar's presidency, evaluates the country's measures against money laundering and terrorist financing.

The meeting also provided an opportunity to discuss the future direction of the FATF and India's role within the organization. As global financial landscapes evolve and new challenges emerge, India's active involvement in the FATF is crucial for strengthening international financial systems.

With the ISMR starting today, this meeting underscores the ongoing efforts of India and Singapore to enhance economic cooperation and address global financial issues together. The roundtable is anticipated to promote further dialogue and strategic partnerships between the two nations, focusing on mutual growth and development.

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