Kazakhstan and Russia Consultations Forum will take place in Almaty (Kazakhstan)

Kazakhstan and Russia Consultations Forum: Financial Security of Private Sector and AML/CFT Best Practices will be held in Almaty (The Republic of Kazakhstan) on May 31, 2010 at Grand hotel “Tien Shan”.

The forum is organized for the private sector institutions of Kazakhstan and Russia to share experience and best practices of implementation of AML/CFT international standards.

The event is held under the banner of The Eurasian group on combating money laundering and financing of terrorism (EAG) with participation of Ministry of Finance of The Republic of Kazakhstan.   

Developing national AML/CFT system in compliance with international standards is a relevant issue for The Republic of Kazakhstan and the Russian Federation and is aimed at providing security of national economies of both states.

The Forum will be chaired by the Chairman of the Financial monitoring committee of the Ministry of finance of Kazakhstan Mr. Musyraly Utebayev.

Galina Bobrysheva, Director general of the International Training and Methodology Centre for Financial Monitoring (ITMCFM, founded by Rosfinmonitoring) will present the event from the Russian side.

The forum will be held with the participation of representatives of Rosfinmonitoring (Russia) and Financial monitoring committee of Kazakhstan, experts of national banks and other supervisory bodies from both countries, and experts from the Association of Russian Banks, Agency of the Republic of Kazakhstan on regulation and supervision of financial market and financial organizations and heads of compliance divisions of leading banks of the region.

The results of the research “Impact of problem of money laundering on the effectiveness of the national economy. Expert opinion of Kazakhstani business-community”, which was conducted by the Interfax Information Agency, will be presented at the forum.

The Consultations forum is ever more relevant due to the recent implementation of the Law of the Republic of Kazakhstan “on Counteracting Legalization (Laundering) of Ill-gotten Proceeds and Terrorist Financing” and the necessity to prepare for the EAG mutual evaluation of Kazakhstan’s national AML/CFT system’s compliance with international standards, which is to be held in July 2010.      

Implementation of the Law became a crucial step of Kazakhstan in integration in the international AML/CFT system and increasing financial transparency and security of the country’s economy.
Online broadcast of the Forum will be available on the EAG website