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An employee of the Financial Monitoring Service of the Republic of Azerbaijan elected for the first time to a managerial position in the international organization


Financial Monitoring Service (FMS) of the Republic of Azerbaijan continues its cooperation within multilateral and bilateral frameworks with the aim of expanding information exchange, as well as building capacity. The employees of the FMS actively participate in the meetings of the Egmont Group, a specialized international organization of world Financial Intelligence Unites (FIU). At the event held in Balaklava, the Republic of Mauritius on January 27-30, 2020, Fuad Aliyev, the Director of the FMS’s Cooperation Department, was elected as the vise-chair of the Membership, Support and Compliance Working Group (MSCWG), one of the main and strategic structures of the Egmont Group.

The Egmont Group, headquartered in Toronto, Canada, was established on June 9, 1995 to improve international cooperation between the FIUs. It is a united body of 164 countries, which provides a platform for the secure exchange of expertise and financial intelligence to combat money laundering and terrorism financing. The fact that FIUs support national and international efforts to counter terrorism financing especially actualizes the Egmont Group as a reliable platform for exchange of information at an international level against money laundering and terrorism financing. The Egmont Group supports the efforts of international organizations to support resolutions and statements by the United Nations Security Council, the G20 Finance Ministers, and the Financial Action Task Force of International Organization for Economic Cooperation and Development.

Azerbaijan was elected a full member of the Egmont Group at the 19th plenary session on July 11-15, 2011. “Membership, Support and Compliance Working Group” is a structure that ensures compliance with international standards and membership criteria for money laundering and terrorism financing by FIUs. As the group’s vice-chair, Fuad Aliyev will be directly involved in overseeing membership processes and coordinating issues which are of strategic significance for the Egmont Group.

 It should be noted that a representative of the Republic of Azerbaijan is elected to a leading position in this veritable international organization for the first time. This achievement is a vivid example of the international organizations’ appreciation of positive effect of large-scale reforms carried out by the Head of State in the relevant field.