Sri Lanka was listed as a high risk third country by the EU in 2018, subsequent to Sri Lanka being identified by the Financial Action Task Force as a jurisdiction with strategic deficiencies in its compliance.
The Central Bank in a statement said upon listing, a time bound Action Plan to address the deficiencies identified was assigned to Sri Lanka.
Since the listing by the EU, Sri Lanka and the Financial Intelligence Unit together with other stakeholders had taken a series of effective steps to implement the Action Plan within the given time frame.
The CBSL said following the progress, the EU delisted Sri Lanka from its compliance document also known as the Grey List on money laundering and terrorist financing.
The revised list of EU high risk third countries together with an Action Plan for comprehensive Policy on preventing money laundering and terrorist financing will now be forwarded to the EU Council and Parliament for adoption.
The EU said it is actively involved within the Financial Action Task Force and on the world stage in shaping international standards in the fight against money laundering and terrorist financing.