Kazakhstan, Astana, Jan.18 / Trend, L. Podolyak /
The Senate (upper house) of Kazakhstan's Parliament adopted a law ratifying the Agreement on the Eurasian Group on Combating Money Laundering and Terrorist Financing (EAG) at the plenary session on Wednesday.
The agreement was signed in Moscow on July 4, 2011. The agreement aims at ensuring efficient interaction and cooperation at regional level and the integration of EAG members countries into the international system of combating money laundering and terrorist financing in accordance with the recommendations of the Financial Action Task Force (FATF).
The agreement defines the main tasks of the EAG. They include assistance in introducing FATF's 40 recommendations by member states in the sphere of combating money laundering and 9 special recommendations of FATF on combating terrorist financing, developing and holding joint activities, coordination of international cooperation and technical assistance programs with specialized international organizations, as well as exchange of experience.
The document envisages creating bodies of the group as plenary session and EAG Secretariat, issues of EAG membership and obtaining observer status at the EAG, the conditions and procedure of defining, applying annual contributions of member states.
According to preliminary calculations, amount of Kazakhstan's contribution in 2012 will hit 22.2 million tenge ($149,000).