TEHRAN- A tripartite meeting of representatives from Iran, the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG), and the Financial Information Center of the Republic of Uzbekistan was held virtually, focusing on the development of international cooperation in combating money laundering and financing of terrorism.

According to a report by IRNA from the Financial Information Center, this specialized meeting, hosted by the Financial Information Center of the Islamic Republic of Iran, was convened with the aim of operationalizing Paragraph 9 of the EAG technical assistance program to Iran, with the participation of representatives from this body, the Financial Information Center of Uzbekistan, and the Central Bank of Iran.

The main focus of these discussions was the transfer of experiences in financial intelligence analysis methods and examining mechanisms for developing international cooperation.

Participants in this meeting, while analyzing existing challenges, emphasized the necessity of enhancing the effectiveness of anti-money laundering systems in the Eurasia region.

The parties also evaluated areas for developing bilateral and multilateral cooperation and shared their local experiences in aligning regulatory standards.

Holding this meeting is considered a strategic step towards implementing the provisions of the Memorandum of Understanding on cooperation between Iran and the Financial Information Center of Uzbekistan; a document that was signed on the sidelines of the 37th Main Meeting of the Eurasia Group in December 2023.

Analysts assess the recent meeting as indicative of a transition from purely diplomatic interactions to executive and operational cooperation, which can lead to the strengthening of Iran's position in regional financial systems and maximum utilization of the Eurasia Group's capacities.

These multilateral cooperations take place as strengthening financial ties with neighboring countries and members of the Eurasia Group plays a key role in reducing financial risks and enhancing transparency in cross-border transactions.

The Eurasian group on combating money laundering and financing of terrorism (EAG) is a FATF-style regional body which comprises 9 countries: Belarus, China, Kazakhstan, Kyrgyzstan, India, Russia, Tajikistan, Turkmenistan and Uzbekistan. EAG is an associate member of the FATF.

MA