Central Bank and Financial Monitoring Service held event for financial institutions

13-02-2023

13 February 2023, Baku: The Central Bank of the Republic of Azerbaijan and the Financial Monitoring Service of the Republic of Azerbaijan held an informative event for financial institutions on the Law of the Republic of Azerbaijan “On Legalization of Criminally Obtained Property and the Financing of Terrorism”, amendments to the Administrative Offences Code and the Law “On Targeted Financial Sanctions”, which entered into force on 1 February 2023.

The event was attended by employees of banks, life insurance and reinsurance companies, investment companies, the national postal operator and the central depository. The requirements of the new legislation and the main changes were discussed at the event. In addition, the questions raised by employees of financial institutions were answered, and additional views and suggestions were discussed.