On December 7-10, 2010, the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL) held its 34th plenary meeting. The Republic of Azerbaijan was represented at the plenary by a delegation that included the management of the Financial Monitoring Service under the Central Bank of the Republic of Azerbaijan.

Based on the agenda, more than 30 issues were discussed at the plenary session, including implementation of regular initiatives within the International Co-operation Review Group (ICRG) of Financial Action Task Force (FATF), consolidated comments on implementation of the FATF Special Recommendation III, involvement of some countries to monitoring process, as well as regular anti-money laundering and combating the financing of terrorism (AML/CFT) reports of the member States.

Azerbaijan first time acted as an evaluator country at the present plenary session and analyzed the second progress report of Moldova and developed joint opinion with MONEVAL Secretariat on the report. The opinion submitted by the delegation of Azerbaijan was accepted by MONEYVAL as appropriate.

MONEYVAL, at its 34th plenary meeting, achieved several significant results: examined and adopted the first progress report submitted by Serbia as well as the second progress reports submitted by Liechtenstein, Malta and the Principality of Andorra; examined the state of compliance on all non compliant and partially compliant ratings in the 3rd round in respect of 3 countries (Ukraine, Croatia and Macedonia); examined action taken by 2 countries (Albania, Bosnia and Herzegovina) currently under step (i) of the Compliance Enhancing Procedures to address the issues of concerns raised by MONEYVAL.

Moldova presented its progress report and, following its examination, they have been invited to provide further information to the next Plenary before a decision is taken on adoption. Bosnia and Herzegovina presented its progress report, and following its examination it was concluded that it raises significant concerns about the extent of or speed of progress overall to rectify deficiencies identified in the mutual evaluation report pursuant to paragraph 43 of the Rules of Procedure.

The next plenary meeting of the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism is scheduled from 11 to 15 April 2011.