EBRD runs anti-money-laundering workshop in Tajikistan

By Svitlana  Pyrkalo
@pyrkalo

The European Bank for Reconstruction and Development (EBRD) is continuing to support financial institutions in Tajikistan. Nearly 50 local bankers, and representatives of state and private banks, micro deposit organisations and banks associations, will participate in the three-day international sanctions workshop, which will focus on anti-money laundering and counter financing of terrorism. The event will take place at the National Bank of the Republic of Tajikistan between 10 and 12 June 2013

This initiative, which is funded by the government of Luxembourg, is an integral part of the activities of the EBRD and forms part of its transition mandate. During the workshop, the Bank will deliver a training programme that combines presentations from local and overseas experts, with discussion opportunities and ‘train-the-trainer’ sessions dealing with the key aspects of money laundering activities.

The key objective of the workshop is to raise the awareness of local bankers in relation to the risks of being involved in money laundering and the financing of terrorism. The event aims to assist participants in establishing and upgrading their organisations’ AML policies and procedures, as well to guide participants in their implementation.

“To be a part of today's international financial markets which pay increasing attention to transparency and origins of money it is essential that banks understand and follow AML/CFT policies and procedures. This seminar will help Tajik banks ensure compliance”, said Mr Ulf Hindstrom, Head of EBRD Resident Office in Tajikistan.

The workshop is focused on current AML and CFT challenges and international sanctions provisions, recognising that sanctions are increasingly imposed not only on named entities but also over areas of economic activity within a designated geographical region. The event will place a strong emphasis on practical and proportionate responses to money laundering risks. The principal targeted outcomes are enhanced knowledge, understanding and cooperation among stakeholders. The event will explain the new focus of AML regulation, what obligations are placed on financial institutions and how organisations can implement effective AML measures with constrained resources.

Since 2002 the EBRD has organised AML trainings in 17 countries, attended by more than 600 bankers from 395 banks and financial institutions.