BAKU, Azerbaijan, December 9. The Coordination Council on combating the legalization of criminally obtained property, the financing of terrorism, and the proliferation and financing of weapons of mass destruction has approved the Work Plan for the upcoming 32nd plenary meeting of the Egmont Group, the global association of Financial Intelligence Units (FIU), which is set to take place in Baku in 2026, the Cabinet of Ministers told Trend.
The Coordination Council held its latest meeting on December 9. Deputy Prime Minister and Chair of the Coordination Council Samir Sharifov stated that the decision to hold the plenary meeting is “a clear indication of our country’s growing international standing.
The Coordination Council has been tasked with ensuring the coordinated work of relevant state institutions to organize and prepare for the event at a high level.
Members of the Coordination Council, along with representatives of several state bodies invited to the meeting, held extensive discussions on the upcoming Egmont Group plenary. Following the discussions, the Work Plan for the event was approved.
During the meeting, Chair of the Board of the Financial Monitoring Service Zaur Fatizade briefed participants on the progress report submitted to the MONEYVAL Committee of the Council of Europe. He stated that significant progress has been achieved in aligning Azerbaijan’s system for combating the legalization of criminal proceeds and the financing of terrorism with the standards of the Financial Action Task Force (FATF). Within this framework, he noted that the country’s rating is expected to be raised on seven FATF recommendations.
In addition, the meeting addressed other issues related to preventing the legalization of criminally obtained property, combating terrorist financing, and countering the proliferation of weapons of mass destruction.
The Egmont Group, established in 1995, supports the work and information exchange of national financial intelligence units in the fight against money laundering and terrorist financing. Azerbaijan joined the group as a full member in 2011.