The removal was confirmed by FATF President Elisa de Anda Madrazo after the FATF general meeting held in Strasbourg, France, from June 10 to 13, according to the statement.

Tanzania was placed on the grey list in October 2022 due to identified strategic deficiencies in its framework for addressing financial crimes, including money laundering and terrorist financing, said the statement.

Reacting to the announcement, Minister of Finance Mwigulu Nchemba reaffirmed Tanzania’s commitment to protecting the integrity of its financial systems.

"Tanzania will sustain the progress achieved and continue working with both domestic and international stakeholders to combat money laundering, terrorism financing, and the financing of weapons of mass destruction," he said.

"The goal is to maintain Tanzania’s reputation for integrity and transparency in financial systems, which are critical for sustainable development and prosperity," Nchemba added.