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Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) System in Kyrgyz Republic

The Law “On Combating Terrorism Financing and Legalization (Laundering) of Proceeds from Crime” was enacted in the Kyrgyz Republic to ensure the protection of rights and legal interests of citizens, strengthen the fight against terrorism financing and money laundering, and maintain financial system stability.

Key Provisions

• Purpose: The law aims to combat terrorism financing and money laundering, ensuring the protection of citizen’s rights and maintaining financial system stability.
• Adoption: The law was adopted on July 31, 2006.
• Role of Financial Intelligence Service (FIS): FIS is an authorized agency responsible for combating money laundering and terrorism financing attempts in Kyrgyzstan.

Implementation Efforts

The Government of the Kyrgyz Republic initiated several bills to implement the Law “On Combating Terrorism Financing and Legalization (Laundering) of Proceeds from Crime”. Specifically:

• Number of Bills Initiated: A total of 11 bills were introduced by the government to support the implementation of this law.

Conclusion

The anti-money laundering/combating the financing of terrorism (AML/CFT) system in Kyrgyz Republic is a crucial component of maintaining financial stability and protecting citizen’s rights. Through laws like “On Combating Terrorism Financing and Legalization (Laundering) of Proceeds from Crime” and institutions such as Financial Intelligence Service, the government aims to strengthen its fight against money laundering and terrorism financing.