Улаанбаатар
MPs meets IMF Regional AML/CFT Advisor
Politics
Earlier, Clive Scott requested the Standing Committee to exchange views in connection with a Bill to amend the Law on combating money laundering and financing of terrorism, which is currently under discussion of Mongolian Parliament.
At the meeting, the sides discussed about how a recommendation of the Financial Action Task Force (FATF) is being reflected in the Bill and that noncompliance to the recommendation would cause an implementation of the Extended Fund Facility of the IMF to stop and/or become sluggish.
They also spoke that formulating the bill in accordance with the FATF recommendation will ensure the continuation of open cooperation with the IMF and create conditions that Mongolia will not be involved in any financial sanction.
MP and head of the working group N.Uchral said, “The bill has been formulated in accordance with the recommendation and the national interest. The first discussion of the bill will be held today. In the final discussion, we will reflect your opinion in the bill.”
M.Unurzul
