OREANDA-NEWS. June 28, 2010. The decision to recognize Turkmenistan’s progress in developing the national anti-money laundering and countering the financing of terrorism system was adopted at the plenary meeting of the Financial Action Task Force (FATF), which had taken palace place on 25 June in Amsterdam.

Emphasizing that within a short period of time Turkmenistan had made a notable progress in this critical field as well as taking into consideration the membership of our country in the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), the FATF plenary meeting also adopted the decision to recognize Turkmenistan as the country without any risks for financial operations.

The mass media all over the world reported the Plenary Meeting participants to note that Turkmenistan actively cooperated with the FATF and its regional agencies at the top political level as well.

Executive Secretary of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) Igor Nebyvaev said that the results of the FATF plenary meeting reflected the work done by Turkmenistan: “The decision to include Turkmenistan in the EAG will let Turkmenistan complete establishing the anti-money laundering and combating the financing of terrorism regimes in compliance with international standards in the near future that will facilitate its integration in the global financial system.”

Reporting on the outcomes of the Plenary Meeting the foreign mass media noted that Turkmenistan took the active steps to develop the institutional framework of the national anti-money laundering and countering the financing of terrorism system and improve the national legislation. The key role in this process is assigned to the Department of Financial Monitoring of the Ministry of Finance – the National Financial Intelligence Unit that was established early this year at a decision of President of Turkmenistan Gurbanguly Berdimuhamedov and effectively fulfills the tasks. An additional positive factor in this process became the amendment introduced to the Criminal Code of Turkmenistan in compliance with international norms and standards this year.

The news that came from Amsterdam is another illustrative evidence of the active approach of the Turkmen state to addressing challenge of the modern world and the effective steps initiated by the national leader Gurbanguly Berdimuhamedov to ensure peace, security, stability and sustainable development in the region. Having acceded to the international documents including the UN conventions against transnational crime and corruption, Turkmenistan stands steadfast to the commitments undertaken.