The Coordination Council, established in accordance with Cabinet of Ministers Resolution No. 404 of October 21, 2020, convened on June 28, 2024, to review the implementation of the National Action Plan for 2023-2025 aimed at combating money laundering and terrorism financing. Led by Deputy Prime Minister Mr. Ali Ahmadov, the meeting featured discussions on pivotal initiatives and challenges in these critical areas.

Mr. Ali Ahmadov outlined significant measures undertaken by Azerbaijan to combat money laundering and terrorism financing. He also addressed the implementation of the "Short-term Action Plan" aimed at rectifying deficiencies highlighted in the mutual assessment report by the MONEYVAL Committee of the Council of Europe.

Mr. Zaur Fatizadeh, Chairman of the Financial Monitoring Service Executive Board, provided an overview of achievements and presented statistical data from the financial and non-financial sectors for the first half of 2024.

Mr. Mehman Aliyev, Director of the Legal Department and Chairman of the Coordination Council's Secretariat, delivered insights from the risk assessment report. Mr. Aliyev emphasized the challenges faced by financial and non-financial institutions and underscored the importance of strengthening control mechanisms and implementing risk-based assessments.

Council members engaged in discussions on the Coordination Council's activities for the first half of 2024, exchanging views on current and upcoming agenda items.

The meeting reaffirmed Azerbaijan's commitment to enhancing its regulatory framework in alignment with international standards, as stipulated by the MONEYVAL Committee of the Council of Europe.