Officials` money flows to be tracked - lawmaker
Financial transactions of government officials will be monitored in
Azerbaijan, under a new draft law, a lawmaker has said.
The bank accounts of the heads of state and government, political leaders as well as diplomats, and overseas accounts in particular, will be thoroughly tracked down, Vahid Ahmadov told Radio Liberty. The scrutiny will be carried out by the Financial Monitoring Group to be set up for the purpose.
"Certainly, this will be done only if parliament passes in the current shape the draft law on fighting the legalization of illegally-acquired funds and other property, and financing terror," the MP said.
Ahmadov noted that the bill envisions granting the monitoring group quite extensive powers.
The draft law stipulates that information will be provided to the group about any purchases, sales and commodity transactions worth 20,000 manats ($24,700) involving officials, and the source of these funds scrutinized.
Ahmadov said this law might be passed by the end of the year. According to him, the government and international financial institutions are interested in its adoption.
The bank accounts of the heads of state and government, political leaders as well as diplomats, and overseas accounts in particular, will be thoroughly tracked down, Vahid Ahmadov told Radio Liberty. The scrutiny will be carried out by the Financial Monitoring Group to be set up for the purpose.
"Certainly, this will be done only if parliament passes in the current shape the draft law on fighting the legalization of illegally-acquired funds and other property, and financing terror," the MP said.
Ahmadov noted that the bill envisions granting the monitoring group quite extensive powers.
The draft law stipulates that information will be provided to the group about any purchases, sales and commodity transactions worth 20,000 manats ($24,700) involving officials, and the source of these funds scrutinized.
Ahmadov said this law might be passed by the end of the year. According to him, the government and international financial institutions are interested in its adoption.
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