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IMF anti-money laundering mission arrives in Azerbaijan

27 July 2010 14:08 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. IMF Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) mission arrived in Azerbaijan for three-day visit, 27-29 July, 2010. The mission held its first meeting at the Financial Monitoring Service (FMS) under the Central Bank of Azerbaijan where they were informed about details of work done in the field of ALM/CFT in Azerbaijan. ALM/CFT development in Azerbaijan and IMF support in this field were discussed at the meeting.
The mission is expected to hold meetings in other governmental organizations involved in AML/CFT measures. IMF experts will organize IT/ICT trainings, as well as analytical workshops for the FMS staff members.

IMF ALM/CFT mission visited Azerbaijan for the first time August 31-September 4, 2009. They discussed the issues related to the development of ALM/CFT development in the country, as well as appropriate support to the Financial Monitoring Service.

The Financial Monitoring Service was established in Azerbaijan on February 23, 2009 by the presidential decree. This is a governmental organization authorized by the legislation in the field of anti-money laundering and combating the financing of terrorism and rules about the Financial Monitoring Service under the Central Bank of Azerbaijan.