OSCE to familiarize Azerbaijani bankers with accounting methodology

Azerbaijan, Baku, Nov. 22 / Trend N. Ismayilova /

The OSCE Baku Office is holding training on combating money laundering and the financing of terrorism for the Central Bank of Azerbaijan's Financial Monitoring Service and the country's financial institutions, the OSCE said in a statement today.

Representatives of 46 local banks are attending the workshop on accounting for transactions methodology. The event aims to promote a healthy and favorable business environment in Azerbaijan and strengthen the potential of financial institutions in compliance with relevant legislation and international requirements.

The training on the banking sector's obligations in combating money laundering and the financing of terrorism is being held from Nov. 22 to 25, the Financial Monitoring Service said. The OSCE has attracted international experts to conduct the workshop.

The workshop aims to support an increase in practical knowledge and skills among banking experts. During the four-day training, local bank representatives will study surveillance systems, IT-support information management, bank typology and other practical issues.