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According to the legislation, the Ministry of Communication and Information Technologies of the Republic of Azerbaijan is the government body supervising the observance of AML/CFT legislation requirements by the post services enterprises and other organizations that transfer money.Within the frame of actions aimed at development of financial services in the Republic of Azerbaijan, in March 2010, the Central Bank issued a license to «Azerpocht» LLC that has 1500 branches throughout the country for rendering some financial and banking services.  It is planned that 1200 branches of the enterprise will render corresponding financial services by the end of the year. Thus «Azerpocht» LLC entered into the group of monitoring entities involved in AML/CFT activities.

Necessary measures are being carried out to form AML/CFT system in «Azerpocht» LLC within the frame of cooperation between the Financial Monitoring Service and the Ministry of Communication and Information Technologies.

Thus, a curriculum jointly developed by the Financial Monitoring Service and «Azerpocht» LLC was approved and employees of the post offices dealing with money transfers received a series of trainings based on the curriculum in February 2010.  Presently, establishment of internal control system in «Azerpocht» LLC has been finalized, compliance officers have been assigned and submission of data started.

A Memorandum of Understanding on mutual cooperation in AML/CFT sphere was signed between the Financial Monitoring Service and the Ministry of Communication and Information Technologies in May 2010.  According to the Memorandum, the parties exchange information on the facts of non-observance of the requirements of AML/CFT legislation and the measures taken for their elimination.