AFSA and Kazakhstan’s Financial Monitoring Agency agree on joint Work in Anti-Money Laundering and Combatting the Financing of Terrorism

Astana Financial Services Authority (AFSA) and Kazakhstan’s Agency on Financial Monitoring (AFM) have agreed to work together in anti-money laundering, combatting the financing of terrorism, and proliferation of weapons of mass destruction (AML/CFT). The parties will exchange information, including confidential, to effectively perform the regulatory objectives of the AFSA in the related field.  

AFSA and AFM agreed to cooperate based on acknowledging international standards (the FATF Recommendations), guidelines and assessment methodology of the Eurasian group on combating money laundering and financing of terrorism (EAG) and the Financial Action Task Force (FATF).

This cooperation reflects AFSA’s commitment to ensure the high adherence of the Authority’s   AML/CFT regulation to standards and recommendations of FATF.

The Chairman of the Financial Monitoring Agency of the Republic of Kazakhstan Mr. Zhanat Elimanov and the CEO of AFSA Mr. Mukhtar Bubeyev have taken part in the signing of the agreement.

Mr. Zhanat Elimanov said, “Today we have gathered to sign a memorandum aimed at taking joint measures in the field of combating money laundering and terrorist financing. In the future, Kazakhstan will have to pass the EAG Mutual Evaluation for compliance with the FATF international standards. During the assessment, personal attention will be paid to the activities of the AIFC, which has no analogues among the EAG member countries. Meanwhile, the Agency is ready to provide all the necessary assistance and support in this matter. “

Mr. Mukhtar Bubeyev said, “At the heart of this agreement is the objective to work together and share critical information that will help both AFM and AFSA in preventing and combatting money laundering in AIFC and in Kazakhstan in general. This can be achieved by joining our efforts and ensuring the compliance of the Republic of Kazakhstan with the FATF recommendations and standards.”