General information

The Coordination Council was established in order to ensure the periodic implementation of the National Risk Assessment (NRA) of anti-money laundering and countering the financing of terrorism (AML/CFT) by the Resolution of the Cabinet of Ministers of the Republic of Azerbaijan No. 404 dated October 21, 2020 within the framework of the implementation of the 3rd part of the “National Action Plan for the Promotion of Open Government for 2020-2022” approved by the Order of the President of the Republic of Azerbaijan No. 1859 dated February 27, 2020.

The Coordination Council is chaired by the Deputy Prime Minister of the Republic of Azerbaijan and established with the participation of relevant bodies. Its main purpose is understanding of AML /CFT risks at the national level, setting strategic targets for those risks and taking steps to reduce the risks identified in accordance with the requirements of Recommendation 1 of the Financial Action Task Force (FATF) (Risk Assessment and Risk-Oriented Approach).

Another goal in establishing the Coordinating Council is to achieve consistent implementation of relevant measures to increase efficiency in the implementation of legislative reforms and the assessment of the institutional environment in order to prepare for the assessment of the 5th round of the MONEYVAL Committee of the Council of Europe in relation to the Republic of Azerbaijan, which is scheduled to begin in the upcoming years.

The secretariat function of the Council is entrusted to FMS.

The main tasks of the Council:

  • To determine the necessary methodology for the implementation of the NRA on the basis of the proposals of the Ministry of Economy of the Republic of Azerbaijan;
  • To establish working groups to identify national and sectoral threats and vulnerabilities and monitor their activities on the basis of this methodology;
  • To coordinate the activities of relevant agencies for the implementation of the NRA;
  • To ensuring the involvement of obliged entities and DFNBPs in the NRA, etc.

The Coordinating Council contributes to meet the existing challenges in a timely manner by coordinating the activities of various government agencies and the relevant private sector in the field of AML/ CFT, as well as to create an effective framework for risk assessment of the national system.

← Back