On 6 July of this year, within the framework of the Egmont Group Plenary Meeting held in Baku, a Memorandum of Understanding on preventing money laundering and terrorist financing (AML/CFT) was signed between the Financial Monitoring Service of the Republic of Azerbaijan and the Financial Intelligence Centre of the Republic of South Africa.

The signing of the document is considered an important step towards strengthening global efforts to combat financial crime. The Memorandum aims to establish mutually beneficial cooperation between the two institutions and enhance effective information exchange in the field of AML/CFT, thereby contributing to the security and stability of the global economy.

The signing of the Memorandum will further deepen the existing diplomatic relations between the two countries in the field of AML/CFT and usher in a new and closer stage of cooperation.