2011-02-17

http://centralasiaonline.com/cocoon/caii/xhtml/en_GB/newsbriefs/caii/newsbriefs/2011/02/17/newsbrief-11

DUSHANBE — The Tajik parliament's lower chamber has passed a bill banning money laundering, AsiaPlus.tj reported February 16, quoting National Bank Chairman Sharif Rakhimzoda.

The bill would establish monitoring of money transfers and legal mechanisms to prevent the legalisation of illegally acquired funds, CA-NEWS.org reported, quoting the parliament's press office.

The National Bank has formed a financial department to prevent money laundering that can aid terrorism, Rakhimzoda said. Without the department, the bank has lacked the means for inquiring why a given client would transfer money to a certain location and what that money is buying, he said.

Ratification of the law will protect Tajikistan's economic security and cut off terrorist financing, he said.

The bill moves to the upper chamber for a vote, and if passed goes to President Emomali Rakhmon for his signature, CA-NEWs.org reported.