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Activities in the field of combating money laundering and financing of terrorism (AML/CFT) in the Republic of Azerbaijan are, in general, an important integral part of the successfully implemented policy on increasing of transparency and strengthening of security in the country.  From this standpoint, coordination of activities covering different spheres and ensuring mutual and efficient cooperation between  relevant government agencies is one of the important conditions for establishing an effective AML/CFT system in the country.Regulatory, supervision and law-enforcement bodies operating in AML/CFT sphere, as well as their relevant functions are specified by the Law #767-IIIQ «On Combatting the Legalization of Criminally Obtained Funds or other Property and Financing of Terrorism» of 10 February 2009 of the Republic of Azerbaijan  (hereinafter– the Preventive Law), Decree #66 of the President of the Republic of Azerbaijan dated 23 February 2009, and other legislative acts.“The Statute of the Financial Monitoring Service under the Central Bank of the Republic of Azerbaijan” approved by Decree #122 of the President of the Republic of Azerbaijan dated 16 July 2009 specifies the Financial Monitoring Service under the Central Bank of the Republic of Azerbaijan (hereinafter – the Financial Monitoring Service) as the body carrying out the state policy and coordinating the activities of relevant government agencies in the AML/CFT field.For establishment of practical mechanisms of cooperation between the government agencies operating in the AML/CFT sphere, the Financial Monitoring Service and the relevant government agencies signed Memoranda of Understanding on bilateral cooperation. The Memoranda envisage the following activities on AML/CFT as the main directions of cooperation: (i) mutual information exchange; (ii) ensuring joint use of databases; (iii) answering legal assistance inquiries; (iv) undertaking joint researches, developing analytical and methodical materials; (v) joint development of by-laws; (vi) organization of conferences, seminars and trainings.More detailed information about the relevant government agencies operating in mutual cooperation with the Financial Monitoring Service and their functions in the AML/CFT field according to the relevant legislation of the Republic of Azerbaijan is given below.