Baku, Azerbaijan, May 25
Azerbaijani President Ilham Aliyev has signed a decree to create the Financial Monitoring Service.
In accordance with the decree, the Financial Monitoring Service of Azerbaijan is established as a public legal entity implementing single regulation, control and coordination activity for prevention of laundering of criminally obtained money and other assets, as well as prevention of financing of terrorism.
The Financial Monitoring Service of Azerbaijan is financed from the state budget.
The Presidential Administration of Azerbaijan has been instructed to prepare and submit the statute of the Service to the Azerbaijani president within five months.