The Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) held its 37th Plenary Session in Strasbourg, France on 13-16 December 2011.

Along with other issues, the second Progress Report of the Republic of Azerbaijan on Anti-money Laundering and Combating the Financing of Terrorism (AML/CFT) was discussed at the plenary session. The Azerbaijani delegation informed the participants of the session about the latest achievements of the Republic of Azerbaijan in AML/CFT field, including legislative reforms, institutional development, international cooperation, effective implementation of the current legislation and other relevant issues. A number of questions asked by members of delegations of Poland, as the evaluating country, as well as other countries about Azerbaijan’s Progress Report were answered in details.

As a result of the discussions held, the MONEYVAL Committee approved the second AML/CFT Progress Report of the Republic of Azerbaijan and in accordance with the procedures of the Committee, a decision on submission of the next Progress Report of the country in 2013 was made.