FATF status

The Solomon Islands is not on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in The Solomon Islands was undertaken in 2019. According to that Evaluation, The Solomon Islands was deemed Compliant for 5 and Largely Compliant for 8 of the FATF 40 Recommendations. It was also deemed Highly Effective for 0 and Substantially Effective for 0 with regard to the 11 areas of Effectiveness of its AML/CFT Regime.

The Solomon Islands has a lower middle-income economy primarily dependent on subsistence agriculture and fishing, with over 75% of the labor force engaged in these sectors. The country has a per-capita GDP of $600 and relies heavily on imports for manufactured goods and petroleum products, while natural resources like timber, palm oil, and gold serve as key exports.

The investment climate in the Solomon Islands is shaped by its abundant natural resources, particularly in mining and fisheries, but is challenged by political instability and inadequate infrastructure. Efforts to attract foreign investment are ongoing, yet issues such as land ownership disputes and a shortage of skilled labor persist, potentially deterring investors. The government is actively seeking international partnerships to improve the investment environment and foster economic development.