Turkmenistan appoints head to Financial Monitoring Service

By  Trend

Dovran Khalbaev has been appointed as Chairman of the Financial Monitoring Service under the Ministry of Finance and Economy of Turkmenistan, the presidential decree reads.

This agency, as previously reported, was established "in order to successfully implement the tasks arising from the Law of Turkmenistan on Combating Money Laundering and Financing of Terrorism, and international treaties."

In 2010, Turkmenistan became a member of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG). In 2007, it joined the Council of Europe Group on Combating Money Laundering and Financing of Terrorism.

Prior to that, a law was adopted for countering the legalization of proceeds gained from crimes and the financing of terrorism.

Ashgabat is regularly visited by delegations of the Financial Action Task Force (FATF).