OSCE CONSULTATIONS HELD AT THE MINISTRY OF FINANCE AND ECONOMICS
On May 27, 2020, consultations of the international consultant of Ms Svetlana Poddubskaya on the “First Draft Technical Report compliance with the national system of Turkmenistan in combating money laundering and the financing of terrorism” were held in the Ministry of Finance and Economics of Turkmenistan in video conference format within the framework of the national preparations to the Mutual Assessment by Eurasian Group for the Development of Financial Measures against Money Laundering (EAG).
Representatives of the Ministries of Foreign Affairs, Finance and Economics, Adalat (Justice), the Supreme Court, the State Statistics Committee, the State Commodity and Raw Materials Exchange, the State Customs Service, the Central Bank and a number of commercial banks, and postal organizations, providing money transfer services, as well as representatives of the OSCE Center in Ashgabat participate in the consultations.
During the consultations, a mutual assessment process was discussed according to the (Financial Action Task Force) FATF methodology, including issues of technical compliance of the legislation with FATF standards, understanding of the risks involved, transparency of legal entities and entities, supervision in the financial sector. Issues such as international cooperation in combating money laundering and financing terrorism, targeted financial sanctions, as well as supervision in the sector of established non-financial enterprises and professions were also considered.
In addition to consultations, expert comments and suggestions on the draft report were also provided.