Finance Minister Nirmala Sitharaman met former Financial Action Task Force (FATF) President T Raja Kumar in Singapore ahead of the second India-Singapore Ministerial Roundtable (ISMR), marking a significant step in further strengthening bilateral relations.

The meeting highlighted the robust partnership between India and the FATF, focusing on previous collaborations and future strategies. In a post shared on X, the Ministry of Finance stated, “Union Finance Minister Smt. @nsitharaman met former FATF President Mr. T. Raja Kumar in Singapore today. The Union Finance Minister congratulated Mr. Raja Kumar for completing a successful tenure as FATF President @FATFNews. FM Smt. @nsitharaman appreciated Mr. Raja Kumar for his fair conduct of FATF proceedings during the discussions and adoption of India's Mutual Evaluation Report. They also exchanged views about the future of FATF and India's role in the organization”.

During her congratulatory remarks, Sitharaman recognized Raja Kumar’s leadership and the constructive approach he took in guiding FATF’s global initiatives. The FATF, an intergovernmental body aimed at combating money laundering and terrorist financing, plays a key role in shaping international financial regulations. India's Mutual Evaluation Report, which was adopted during Kumar’s tenure, assesses the effectiveness of the country’s anti-money laundering and counter-terrorism financing measures.

The discussions also provided an opportunity to explore the future direction of FATF and India’s role within the organization, particularly as global financial landscapes evolve and new challenges arise. India’s active involvement in the FATF remains crucial in fortifying international financial systems and addressing emerging risks.

As the ISMR kicks off today, the meeting underscored ongoing efforts by both nations to enhance economic cooperation and jointly address global financial issues. The India-Singapore Ministerial Roundtable is anticipated to further deepen strategic partnerships, with a focus on mutual growth, economic collaboration, and shared development goals.