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Azerbaijan to adopt law on Combating Financing of Terrorism and Legalization of Properties achieved via criminal activities

05 June 2008 12:30 (UTC +04:00)

Baku. Elbrus Seyfullayevâ€“APA. MM Standing Commission on Legal Policy and State Building has discussed draft law on Combating Financing Terrorism and Legalization of Properties achieved via criminal activities today, APA reports.
Ali Huseynov, Chairman of the Commission noted that Azerbaijan had undertaken commitments at the Council of Europe on the adoption of the law. MP Vahid Ahmadov stated that banks and NGOs played special role in legalization of properties achieved via criminal activities. To him, the law envisages Articles on bank control mechanism and non-cash payment rules. MP Gudrat Hasanguliyev stated that there were Articles paved the way for corruption and proposed to take them out of the document. To him, control over bank accounts will be impossible and measures should be taken effectively.
â€œCriminal groups have opened banks and they carry out measures of their interestsâ€, he said. After discussions, draft law was submitted to the Parliament for consideration.