Details added (first version posted on 13:51)
Baku, Azerbaijan, Nov. 24
By Azad Hasanli – Trend:
The measures implemented by the Financial Market Supervisory Authority of Azerbaijan (FIMSA) regarding application of the order of regulation of operations on the import and export of goods, are insufficient, Zaur Hajili, head of the Analytical Department of the Financial Monitoring Service under the FIMSA said Nov. 24.
Hajili said that at the same time, a great number of measures to modernize this legislation have been implemented so far and the FIMSA continues this work.
He reminded that the “Order of regulation of import-export operations” was last updated in February 2016.
The mechanism of supervision over this sphere, including criminal and administrative liability, was improved within the framework of these measures, he noted.
The control itself is carried out on the basis of the mechanism created by the FIMSA and the State Customs Committee of Azerbaijan, he added.