Vice Prime Minister Zhenish Razakov: Kyrgyzstan remains an active participant in the international anti-money laundering system and a committed proponent of a stable global financial system

Vice Prime Minister Zhenish Razakov: Kyrgyzstan remains an active participant in the international anti-money laundering system and a committed proponent of a stable global financial system
Vice Prime Minister of the Kyrgyz Republic Zhenish Razakov chaired the 5th meeting of the Anti-Money Laundering and Combating the Financing of Terrorism/Extremism (AML/CFT) Committee.

The meeting was attended by expert assessors from the Eurasian Group on Combating Money Laundering and Financing of Terrorism on a visit to Kyrgyzstan.

As noted by the vice prime minister, Kyrgyzstan, ever since joining the Eurasian Group on Combating Money Laundering and Financing of Terrorism, has been and remains an active participant in the international anti-money laundering system and a committed proponent of measures to strengthen and stabilize the world financial system.

"Kyrgyzstan has repeatedly displayed political will and unwavering commitment to the fight against money laundering and terrorist/extremist financing. The Kyrgyz government is taking the necessary steps to implement its state policy on combating money laundering and terrorist financing," said Zhenish Razakov.

The vice prime minister reminded participants that the 1st Round Mutual Evaluation of Kyrgyzstan, conducted in 2007, coincided with the establishment of the national AML/CFT system and the relevant legal framework.

"The EAG 2nd Round Mutual Evaluation of Kyrgyzstan represents a series test of maturity. Over the past ten years, Kyrgyzstan's AML/CFT system has strengthened and gained valuable experience. Much has been achieved during this time to improve the country's AML/CFT legal framework and to bring it in line with the international laws and standards, "he said.

Zhenish Razakov added that the State Financial Intelligence Service under the Government of the Kyrgyz Republic was tasked with overseeing the activities of the Committee's executive body.

Kyrgyzstan's removal from the FATF grey list was one of the country's biggest achievements in the years of the Committee's operations, said Andrey Seleznev, senior administrator of the EAG Secretariat and deputy EAG executive secretary. 

"It's important to acknowledge that this achievement would not have been possible without the concerted effort of all ministries and departments. In this regard, it's necessary to note the importance of the work carried out by the Committee, especially with regard to cooperation and joint decisions," he added.

According to EAG expert assessors, the purpose of their visiting mission to Kyrgyzstan is to lend an expert help to the task of improving the national AML/CFT system and bringing it in line with international standards. 

Participants discussed a number of topical issues, in particular, the measures taken and planned to reduce the risks of money laundering and terrorist financing, the Committee's performance, and the coordination and interaction mechanisms used by it.

The Government of the Kyrgyz Republic

 

 

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