MONEYVAL adopts report on progress of Azerbaijan

MONEYVAL adopts report on progress of Azerbaijan

Azerbaijan, Baku, dec 20 /Trend N.Ismayilova/

Azerbaijan submitted a second report on its progress at the 37th plenary meeting of the Council of Europe Expert Committee on the Evaluation of Anti-Money Laundering and Financing of Terrorism (MONEYVAL), the State Securities Committee (SSC) of Azerbaijan said, on Monday.

The meeting was held between 13-16 December in Strasbourg. The head of the interdepartmental working group on the fight against 'dirty money' laundering and chairman of SSC Rufat Aslanli, headed the delegation from Azerbaijan.

Analysis on the report on the progress of Azerbaijan was conducted by the Polish delegation and speaking as a country rapporteur and the secretariat of the MONEYVAL Committee, was heard first.

It was noted in both analyses that Azerbaijan had achieved significant progress in the fight against money laundering and financing of terrorism and has legal and institutional arrangements in accordance with international standards which have been scrutinised by its Government.

Delegations from Latvia, Estonia, Cyprus, San Marino, the World Bank and the International Monetary Fund raised questions on the report and expressed their views as to the achievements of Azerbaijan.

The MONEYVAL Committee adopted a report on the progress of Azerbaijan as a result of the discussions. Azerbaijan joined the committee in 2002 after the country's full membership of the Council of Europe in January 2001.

Azerbaijan became the first country in the world to be evaluated according to the new requirements of MONEYVAL in 2003. They represent a set of separate assessments of compliance for each FATF standards on a '40 + 8' (40 standard anti-money laundering and eight to counter prevent financing of terrorism).

However each standard has a few paragraphs with a total of 180 sub-items. Azerbaijan corresponds to FATF standards and evaluation which was given to the country by MONEYVAL and was higher than the assessment conducted under the interagency expert group.

Azerbaijan was assigned to the category of countries corresponding to updated standards of the FATF based on the evaluation. Since then, they were complemented with a new standard on fighting terrorist financing. The second evaluation, which was also described as constructive was conducted in 2008.

MONEYVAL decided to remove a special monitoring system which had been applied to Azerbaijan since 2006 and move towards the transition of a normal assessment procedure which takes place in relation to other countries at the XXXI Plenary Session of the Council of Europe Expert Group on 'dirty money' laundering on December 11, 2009.

This decision was taken due to the achievements of Azerbaijan in the formation and implementation of legislation in the field of fighting against criminally obtained money and property and terrorist financing, as well as in connection with the beginning of the financial monitoring service under the Central Bank.

Produce in Georgia agency to begin accepting applications for its Micro and Small Business Support Program
Produce in Georgia agency to begin accepting applications for its Micro and Small Business Support Program
Geostat reveals volume of citrus fruits exported by Georgia to Azerbaijan
Geostat reveals volume of citrus fruits exported by Georgia to Azerbaijan
Review of Georgian corn export to Azerbaijan
Review of Georgian corn export to Azerbaijan
Loading Bars
Siemens sees market value of energy spin-off above $20 billion
Produce in Georgia agency to begin accepting applications for its Micro and Small Business Support Program
Uzbekistan increases electric cars import
Iran’s Khouzestan Steel Company reaches new production level record
“Protect the Caspian Sea” with support of Bakcell and its partners (PHOTO)
Updates on Uzbekistan’s nuclear progress
EY Azerbaijan officially announces the start of the ‘EY Entrepreneur Of The Year™’ 2020-2021 competition
Azerbaijan's CBA discloses amount of foreign currency bought by local banks
Subsidiary of KazMunayGas to buy diesel fuel via tender
Cement imports by US from Turkey slightly up amid COVID-19 pandemic
IMF: Economic growth in Uzbekistan to be positive due to growth in construction sector
Russia lowers import of Turkish clothes
Geostat reveals volume of citrus fruits exported by Georgia to Azerbaijan
Romanian WEVO company implementing state projects in Azerbaijan
WTL ready to implement new project in Turkmenistan
Review of Georgian corn export to Azerbaijan
Azerbaijan has right to liberate its lands by military means - Turkish general
Azerbaijan confirms 113 more COVID-19 recoveries
Value of exports from Iran's Maragheh County revealed
Georgian corn oil to enter local market
ROMGAZ moves towards becoming active player on natural gas distribution market
Azerbaijan's Energy Ministry reveals data on gas production, export
Iran reveals its COVID-19 data for September 22
Youth Union of New Azerbaijan Party issues appeal regarding Armenian provocation
PACE rapporteurs welcome decision to release Tofig Yagublu to house arrest
Oil rises on expectations demand can survive new lockdowns
Azerbaijan reveals oil production, export figures for ACG, Shah Deniz field
Electricity potential of Iran's thermal power plants up
Demand for Turkish electrical goods in China down
Turkmenistan, France's MEDEF considering priorities for infrastructure dev't in country
Greece plans to properly exploit fact of receiving natural gas from Azerbaijan
Iran inaugurates new healthcare centers
Kazakhstan's postal service operator to buy spares via tender
Documents on archiving pension files to be in e-format in Azerbaijan
Kazakhstan, France trade down twofold amid COVID-19
Iran’s Tehran Oil Refining Company to boost its capital
Microsoft Azerbaijan talks about cybersecurity within country
Azerbaijani president congratulates King of Saudi Arabia
Azerbaijani president’s interview to local TV channels in spotlight of foreign media
Armenia - threat to international peace and law, Iranian lawyer says
Italian geopolitical analyst: Azerbaijan is a platform of intercultural, intercivilizational dialogue
Group of insurance experts created in Azerbaijan
Two types of overpasses built on Georgian section of BTK
Equinor increases its improvement ambition by 50%
Gold price declines in Azerbaijan
UK and U.S. exchanged tariff offers during trade talks
Uzbekneftegaz reveals natural gas and gas condensate production volumes
Turkmenistan increases export of ECO-93 gasoline
Wood Mackenzie: Azerbaijan’s contribution to Europe’s energy supply only set to grow
President Ilham Aliyev, first lady Mehriban Aliyeva view new ambulances delivered to Azerbaijan (PHOTO)
Apple harvest started in several regions of Turkmenistan
Uzbekistan, India enhance cooperation in nuclear energy field
In Tel Aviv COVID-19 ward, warnings of dwindling hospital capacity
Fruits and vegetables export in Uzbekistan decrease
German economy to shrink by 5.2% this year, grow by 5.1% next year
Azerbaijan's imports of French products declines
Iran's Tehran Oil Refining Company to expand gasoline production
Network of greenhouses expanding in Turkmenistan’s Dashoguz region
Peach export in Uzbekistan up
Azerbaijani oil prices show decline
Ukraine's imports of electrical goods from Turkey surges
Turkmenistan developing digitalization in trade system
Georgia reports 218 new cases of COVID-19
Second unit of Qeshm TPP connected to Iran's electricity network
FM: Turkey always next to Azerbaijan in its just struggle
EBRD to assess investment requirements in Georgia
India's new coronavirus infections at lowest in almost a month
Azerbaijani currency rates for September 22
Iranian currency rates for September 22
Turkmenistan, Afghanistan discuss construction of Akina-Andkhoy, Turgundi-Herat railways
UNEC brand is recognized in 10 countries
Turkey's President: Connivance towards Armenian attacks on Azerbaijani lands - real example of hypocrisy in world
Production of chemical, petrochemical products in Iran spikes
Weekly review of Georgian capital markets (Sept.14 - Sept.18)
COVID-19 to impact oil & gas deals’ activities in short-term
Turkish export of cars to France spikes
Iran boosts manufacturing of several industrial products
Turkmenistan, Uzbekistan put forward number of proposals for expanding co-op
Uzbekistan reveals its COVID-19 data for September 22
Global diesel market to remain oversupplied deep into 2020s
Armenia violates ceasefire with Azerbaijan 33 times
Azerbaijan's AzInTelecom improving cloud technologies (PHOTO)
Intel gets U.S. licence to supply some products to Huawei
5G technology to improve four areas in oil and gas industry
Georgian MP: Armed attack on Azerbaijan to have catastrophic consequences for Armenia
Iran is expected to increase oil production
Turkey records 1,743 new COVID-19 cases, 1,202 recoveries
Salome Zurabishvili addressed world leaders at UN high-level meeting
Iran, Qatar urge enhancing bilateral ties
Int'l Road Transport Union supports transport infrastructure digitalization in Uzbekistan
67 COVID-19 infections reported in Kazakhstan over past day
Mexico surpasses 700,000 confirmed COVID-19 cases
Fifteen more coronavirus patients die in Moscow in past day
Huawei plans more cuts to jobs, investment in Australia
Trump to 'cut off' TikTok if deal cannot be saved
Tunisian PM decides to step up security campaigns to combat COVID-19
EU adopts new rules for state aid to reduce carbon emissions
Kazakhstan doubles crude oil exports to Croatia, Lithuania in 1H2020
Turkey sets global example with online therapy sessions to combat COVID-19 woes
Azerbaijani president: We launched broad political dialogue initiative several months ago
All news