Israel says it has been accepted as a member in a global money laundering and terrorism financing watchdog group.

The Financial Action Task Force is an intergovernmental group of some 35 countries based in Paris that sets international standards on terror financing and money laundering.

Israel says Monday that its acceptance into the group will allow it to take an active role in global policy-making on the issues.

In a statement, the FATF said Israel’s “experience and perspective will make a valuable contribution to our work to prevent the misuse of the financial system.”

The group has in the past given Israel’s archenemy Iran ultimatums over terrorism funding, warning of deeper economic isolation if it doesn’t comply.

(AP)