First Deputy Governor of the Central Bank of Azerbaijan Alim Guliyev recently received a delegation from the Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism, or MONEYVAL, led by John Baker, head of the mission.
The goal of the mission is to evaluate how sensitive the Azerbaijani financial system is to money laundering and terrorist financing risks based upon international standards in harmony with the MONEYVAL internal procedures.
Guliyev said Azerbaijan attaches great importance to its ties with MONEYVAL and detailed the work banks have done on oversight over anti-money laundering and terrorist financing activities.
Baker expressed his satisfaction with the present status of cooperation between Azerbaijan and MONEYVAL and said that he greatly appreciated the CBA's relevant activity recent years.
Baker also called the improvement of the Criminal Code and The Law of the Republic of Azerbaijan on Prevention of Legalization of Criminally Obtained Funds and Other Property and the Financing of Terrorism a critical success.
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