Seminar for representatives of credit institutions of the Republic of Tajikistan on AML/CFT/PWMDFP sphere

On January 18, 2018 the seminar for representatives of credit institutions of the country on counteraction of legalization (Laundering) of Proceeds from Crime, Terrorism Financing and Proliferation of Weapons of Mass Destruction Financing Prevention was held in the National Bank of Tajikistan.

The aim of this meeting was removal of disadvantages and implementation of normative legal acts’ requirements in the process of “Compliance” in the sphere of AML/CFT/PWMDFP.

Mr. Ikromi S.S., Deputy Chairman of the National Bank of Tajikistan has opened the seminar and firstly has noted the shortness and mistakes of credit institutions during realization of legislative requirements of the Republic of Tajikistan on in sphere of (AML/CFT/PWMDFP), which were revealed during inspections. Also, it was noted that one of the main reasons of such fault is lack of sufficient knowledge of employees in the given direction.

Taking the above mentioned into consideration the National Bank of Tajikistan initiated to conduct seminar for improvement of the level of knowledges of credit institutions’ employees in this sphere.

Mr. Ikromi S.S also has noted that the Republic of Tajikistan is in process of the 2nd Round of a Mutual Assessment, which will be realized by EAG on AML/CFT.

It is necessary to note that during mutual assessment not only government authorities’ activities, but also the activities of credit institutions will be assessed. Also the meeting of experts- appraisers with representatives of credit institutions will be held without representatives of the National Bank of Tajikistan.

In this connection, the credit institutions have been instructed to be more active during the given action as well as during the meeting with experts- appraisers.

Then, the floor was given to Mrs. Fattidinova Z.B., Acting Director of Association of Microfinance Institutions of Tajikistan. She extended a gratitude to the National Bank of Tajikistan for support in organization of training seminars and also in section of credit institution activities on AML/CFT/PWMDFP and elimination of existing deficiencies.

Faizullozoda F., Acting Director of Financial Monitoring Department of the National Bank of Tajikistan during his address has noted that in course of checks in credit institutions some lacks were revealed also in Compliance activity. Thereupon, similar events support to increase the awareness on implementation of the legislation requirements on AML/CFT/PWMDFP.

The employees of the Department have made presentations on following topics:

• Requirements of legislation of the Republic of Tajikistan in the sphere of AML/CFT/PWMDFP;
• Report submission procedure;
• Financing for attraction of persons for commitment of terroristic acts;
• Department Activity on combating the financing of terrorism.

Faizullozoda F. has provided exhaustive answers to questions of seminar participants. Also he has noted that in case of need the responsible executives of the given institutions can apply to the Financial Monitoring Department for improvement of knowledge.

Also it has been noticed that according to FATF Standards credit institutions should identify their risks on AML/CFT/PWMDFP and take measures for their reduction. The given action will make major contribution to improvement of financial system of the country.

More than 60 representatives of credit institutions of the country have participated in this seminar. It is necessary to note that arrangement of similar events shows the close cooperation of the Financial Monitoring Department and credit institutions in the frame of compliance with the legislation requirements on AML/CFT/PWMDFP.

Financial Monitoring Department