IMF hails Turkmenistan's efforts to counter money laundering
Turkmenistan, Ashgabat, March 16 / Trend H.Hasanov /
The Anti-Money Laundering and Combating Financing of Terrorism (AML/CFT) mission of the International Monetary Fund "welcomes" the establishment of a state agency for financial monitoring in Turkmenistan.
The report of the mission, headed by legal department's senior lawyer Giuseppe Lombardo who visited Ashgabat recently, notes "a significant step in bringing the national financial monitoring system in compliance with international standards in this area."
The mission held meetings with the Finance Ministry and the Central Bank of Turkmenistan, as well as held a two-day workshop on financial monitoring and its functions, which was attended by over 70 representatives from various banks and financial institutions, ministries and departments, the report says.
This workshop is part of a joint project between Turkmenistan and Switzerland. The workshop introduced international experience in the field of AML/CFT.
"An important component of this is to increase the skill level of specialists of the financial system of Turkmenistan, as well as banks, ministries, departments, therefore increase the of activity in this direction is highly relevant," the report says.
During the visit, the mission also noted "the commitment of the Turkmen competent authorities to further improve the national system."
The mission also discussed further steps to develop financial monitoring and its integration into the international AML/CFT