TEHRAN - The Iranian delegation detailed the country's initiatives to counteract money laundering and the financing of terrorism during the 40th plenary session of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG) held in Bishkek, Kyrgyzstan.

The delegation from the Islamic Republic of Iran, led by Deputy Minister of Economic Affairs and Finance and Head of the Financial Intelligence Center Hadi Khani, presented Iran's strategies to combat money laundering and the financing of terrorism at the 40th plenary session of the EAG on Wednesday.

They announced the granting of comprehensive supervisory powers to the Central Bank of the Islamic Republic of Iran.

The delegation also explained the capacities of the new Central Bank of Iran law in meeting anti-money laundering requirements. They highlighted the legislative effort to grant comprehensive supervisory powers to the Central Bank, ensuring the existence of general and professional qualifications for managerial positions, the requirement to obtain a license for activities in the monetary and banking field, the types of regulatory measures considered in the law, as well as granting sufficient authority for the central bank to impose administrative and financial fines in case of violations.

Khani met and held talks with the Chairman of Kazakhstan's Financial Monitoring Agency Dmitry Malakhov on the sidelines of the 40th plenary session of EAG on Wednesday.

During the meeting, Malakhov emphasized the importance of sharing experiences in combating money laundering, terrorism financing, and specifically in the field of combating drug trafficking.

They also agreed to enhance cooperation between the police of the Islamic Republic of Iran and the Kazakh police, with a focus on the heads of the financial information center of the two countries, to address the issue of combating drug trafficking at the regional level.

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