Mongolia has met all requirements to be removed from the Financial Action Task Force’s (FATF) grey list, the country’s finance minister Ch.Khurelbaatar said on Friday.

FATF is an intergovernmental organization founded in 1989, whose aim is to combat global money laundering and the financing of terrorism.

“FATF has recently concluded that Mongolia has complied with all six recommendations to combat money laundering and terrorism financing crimes,” Ch.Khurelbaatar told a news conference.

The next official meeting of FATF will decide whether to remove Mongolia from the list, according to Byadran Lkhagvasuren, governor of the country’s central bank.

Mongolia was added to the list by FATF last October, after the country failed to pass essential transparency requirements.