16 Dec 2003

Marshall Island Welcomes Naoru's Off Blacklist

1:47 pm on 16 December 2003

The Marshall Islands Banking Commissioner, Alfred Alfred Junior, says his country welcomes an OECD decision to remove beighbouring Nauru from a blacklist of renegade tax havens.

The OECD has been targetting a number of countries worldwide and has kept the Marshalls on the list.

Mr Alfred says the Marshalls is exchanging tax information with the OECD and making its jurisdication more transparent in a bid to get off the blacklist.

But he says while his country is trying to comply with the OECD demands, some OECD members have reservations about the directions.

"I see there is a lot of flue and flop in the initiative. OECD said this would be a deadline for the improvement of certain things, and then at the final hour, it turns to be a dealine, I guess what needs to be done right now is to find out where this initiative is really heading, it seems that some of the OECD member countries are not totally committed to the initiative."

He says what they can do is to continue engagement with OECD so far.