Moneyval to evaluate Azerbaijan for the FATF standards for the second time

Mediamax reports referring Trend that the Deputy Chairman of the Board of the National Bank of Azerbaijan Rufat Aslanli said this.

The Joint Mission of the Council of Europe and Moneyval discussed with the government of Azerbaijan in Baku the preparation to the second stage of the evaluation.

“In the course of the discussions, we jointly assessed the present situation and presented to the delegation of Moneyval our vision of the further steps of the Azerbaijani government”, Rufat Aslanli stated, noting that the both sides are content with the results achieved.

The first stage of the evaluation was held in 2003, according to which Azerbaijan was related to the category of countries, meeting the renovated FATF standards.

At present, the FATF standards are amended with new items, among which – combating financing of terrorism.

The main requirement of Moneyval is the approval of a draft law “On combating money laundering and financing of terrorism”, which is expected to take place in the Azerbaijani parliament this year. After the approval of the draft law, a body of financial monitoring will be set up.