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Azerbaijan to Strengthen Financial Compliance with New EU/Council of Europe Partnership Project

Baku, Azerbaijan

The Council of Europe and the European Union have launched a new project aimed at enhancing financial compliance in Azerbaijan. The initiative aims to contribute to democracy and the rule of law by strengthening the capacity of Azerbaijani authorities to prevent and combat money laundering and terrorism financing.

Project Background

The EU/CoE Partnership for Good Governance programme supports Eastern Partnership countries in countering economic crime. This project will help Azerbaijan implement institutional reforms aligned with European and international standards.

Key Areas of Focus

• Strengthening the capacity of Azerbaijani authorities to prevent and combat money laundering and terrorism financing
• Enhancing the effectiveness of AML/CFT regulations and supervisory frameworks
• Improving cooperation between law enforcement agencies and financial intelligence units

Project Goals and Benefits

“Azerbaijan has made significant progress in strengthening its anti-money laundering and combating the financing of terrorism (AML/CFT) regime,” said Ms Firuza Jafarova, Senior Project Officer at the Council of Europe Office in Baku. “However, there is still room for improvement to meet European and international standards.”

The project will contribute to Azerbaijan’s efforts to ensure a stable and secure economy by aligning with the EU-Azerbaijan Action Plan and the Council of Europe Action Plan for Azerbaijan 2018-2021.

Project Timeline and Budget

The project is expected to run for two years, with a budget of €500,000. For more information, please contact:

Ms Firuza Jafarova Senior Project Officer Council of Europe Office in Baku Phone: +994 12 599 05 27 Email: Firuza.JAFAROVA@coe.int