Foreign NGOs' operations in Azerbaijan to be subjected to financial monitoring
The representative offices and branches of foreign non-governmental organizations (NGOs) in Azerbaijan will be subjected to inspections conducted by the Financial Monitoring Service of Azerbaijani Central Bank (CBA).
The relevant changes to the "Rules for provision of information by monitoring participants and other persons to the CBA Financial Monitoring Service" came into force.
The rules were previously approved by the CBA management board.
The Financial Monitoring Service was established in accordance with Azerbaijani President Ilham Aliyev's decree dated February 23, 2009, as part of recommendations from the Financial Action Task Force (FATF) of the Organization for Economic Cooperation and Development.