Tashkent, Uzbekistan (UzDaily.com) -- At the regular plenary meeting of the Senate of the Oliy Majlis, the law “On ratification of the Protocol on Amendments to the Agreement on the Eurasian Group on Combating Money Laundering and the Financing of Terrorism and the Regulations on the Procedure for Forming and Executing the Budget of the Eurasian Group on Combating Money Laundering and the Financing of Terrorism (Tashkent, 1 June 2022)” was considered.

During the discussions, it was noted that consistent work is being carried out in the Republic of Uzbekistan to combat money laundering and the financing of terrorism, and the financing of the proliferation of weapons of mass destruction.

However, the effectiveness of the measures being implemented largely depends on the close coordination of international efforts in this direction. Therefore, Uzbekistan attaches great importance to strengthening the legal framework for the development of international cooperation in the field of combating money laundering.

It was noted that today the Eurasian Group on Combating Money Laundering and the Financing of Terrorism is one of the leading organizations in the development of measures and standards to combat money laundering and increase the transparency of financial processes.

The senators noted that the document considered provides for the further development of the activities of the Eurasian Group on combating money laundering and the financing of terrorism, as well as bringing the main tasks into line with international standards.

Countering the financing of the proliferation of weapons of mass destruction is identified as one of the main activities of the Eurasian Group.

The law envisages the establishment of additional requirements for the position of chairman of the Eurasian Group and clarification of the powers of its secretariat.

The requirements and conditions of the budget of the Eurasian Group are clarified, that is, the share of member states, the distribution of expenses and other financial issues.

The senators noted that the adoption of the Law serves to further improve national legislation, strengthen international cooperation in the field of combating money laundering and the financing of terrorism, financing the proliferation of weapons of mass destruction, as well as the formation of a positive image of Uzbekistan in relations with international and regional organizations.

The law was approved by the Senate.