DRAFT LAW ON MONEY LAUNDERING COUNTERACTION WILL BE SUBMITTED TO PRESIDENT OF AZERBAIJAN BY OCTOBER
Interdepartmental consideration of the draft law вЂњOn fighting against money laundering and financing terrorism in AzerbaijanвЂќ enters its final stage. The working group supposes to submit the draft law to the President by October, a Board member of the National Bank of Azerbaijan (NBA), head of the interdepartmental group on development measures against money laundering Rufat Aslanli told Trend.
"Development of the draft law is conducted in the framework of the schedule for implementation of the Anti-corruption program, which element is counteractinfg to the money laundering, Aslanli said. Under the Anti-corruption program the draft law is to be passed till the end of 2005 year.
Positive conclusions on the draft law were given by the USA Ministry of Justice, the Council of Europe expert group on counteraction the money laundering and financing terrorism (Money val) and the UNO Department on fighting the organized criminality and illegal drugs trafficking (UNODC).
An interdepartmental working group on the development of the draft law вЂњOn fighting the money laundering and financing terrorism in AzerbaijanвЂќ, set up under the Cabinet of Ministers of Azerbaijan in 2003 from the representatives of 13 departments, finished the draft law coordination on 21 May 2005.