18TH PLENARY MEETING OF MONEY VAL DUE IN NOV-DEC
The next 18th plenary session of the Organization for resisting to money laundry and financing terror Money Val will be held in November вЂ" December 2005, Trend reports quoting representative on the national working group on fighting the money laundry under the National Bank of Azerbaijan (NBA), Aliyar Mammadyarov.
According to Mammadyarov, they regularly deliver to the organization data on the implementation of the relevant actions in Azerbaijan. "During the gathering we want to present large information on the issue,вЂќ he noted.
Mammadyarov note that Money Val carried out the last appraisal in 2003. A report on Azerbaijan including the work directed at resisting the money laundry was submitted to the 16th plenary session in January 2005. The report received a positive estimation.
Initial appraisal was held with regard to reveal the coincidence of the country to updated standards of the Group on designing financial actions for fighting with money laundry (FATF) of the Economic Cooperation and Development Organization.
On the base of the analysis Azerbaijan was referred to the category of countries meeting the FATF standards. Azerbaijan was the first country, which passed appraisal in compliance with the "40+8" procedures (40 standards on resistance to the money laundry and 8 вЂ" resistance to he financial terror).