Saudi Arabia became the first Arab country to be granted full membership of the Financial Action Task Force (FATF) in June 2019 meeting held in Orlando, U.S.A. Financial Action Task Force (FATF) is an International Governmental Organisation founded in 1989 on the initiative of 47 groups to develop global policies to prevent money laundering. In 2001 , its mandate was expanded to include terrorism financing. It is headquartered in Paris, France. FATF includes 39 member countries. It publishes a Blacklist which includes a list of countries which it judges to be non-cooperative in global fight against terrorism and a Greylist which includes countries under increased monitoring.