The National Bank of Tajikistan says that Tajikistan is no longer a country with a high risk of money laundering, since the country has fully brought its domestic legislation in accordance with the requirements of the Financial Action Task Force (FATF).
Replying to the recent information in the media about Tajikistan’s rating in the Basel AML Index 2014, where Tajikistan was among the top 10 highest risk countries for money laundering, the National Bank said that the journalists were using old information of 2011-2012.
“In reality in those years (2011-2012 – Asia-Plus), the country’s legislation was not fully compatible with the FATF requirements, and the adjustment process had just begun,” says the country’s main financial regulatory body. “During 2013-2014, Tajikistan took specific steps, and fully put its legislation in accordance with the requirements and recommendations of FATF.”
The National Bank also says that in June, during the 20
th
Eurasian Group meeting the Tajik system’s development was discussed, and in regards with the work done, the country was taken off of the strict FATF monitoring and put under normal monitoring.
Meanwhile, the Basel AML Index is coming out for the third year in a row, which rates countries on money laundering.
