Ashgabat Hosts International Practice in Countering Money Laundry

Ashgabat Hosts International Practice in Countering Money Laundry
  • 03 December, 2008

    The International Monetary Fund organized the International Practice in Countering Money Laundry and Terrorism Financing seminar with the assistance of the Central Bank of Turkmenistan at the specialized school of banking in Ashgabat.

    The governmental officials, members of the Parliament, specialists of the Ministry of Finance and Development, banks, law enforcement agencies and judicial bodies took part in the forum.

    Greeting the forum participants the IMF experts expressed gratitude to President Gurbanguly Berdimuhamedov and the Government of Turkmenistan for the assistance in organizing the seminar and noted that Turkmenistan profoundly contributed to strengthening peace, security and stability in the region. Turkmenistan took an active stand to tackle challenges of the modern world that was illustrated by the effective measures taken on the initiative of the Turkmen leader. The important steps on this way included Turkmenistans joining the Eurasian Group on combating money laundering and financing of terrorism (EAG) as observer.

    The seminar focused on the EAGs activities aimed at establishing wide exchange of experience through preparing and holding joint events as well as introducing the relevant international standards in the region. The participants noted that having taken the road of fundamental reforms Turkmenistan took the concrete steps to bring the national legislation in compliance with the international standards. Thus, co-operation between the International Monetary Fund and the Central Bank of Turkmenistan had resulted in drafting the law on countering money laundry and financing of terrorism.

    This document set forth the legal measures to effectively prevent and detect illegal actions and created new incentives to develop mutually advantageous international co-operation. Calling for maintaining a constructive dialogue the participants focused on the necessity to concert efforts to tackle challenges of the modern world as well as increasing the awareness of every country of an individual responsibility for finding the effective solutions to urgent problems.

    Source: OREANDA-NEWS