President Ilham Aliyev has signed a decree amending the previous order dated January 31, 2023, regarding the implementation of the law "On combating the legalization of property obtained through crime and the financing of terrorism." Under the new regulations, the Ministry of Health of the Republic of Azerbaijan is now authorized to receive financial monitoring information electronically upon request.
According to the Operative Information Center-OMM, this legislative adjustment aims to enhance the oversight capabilities of the ministry in identifying and preventing suspicious financial activities. The Cabinet of Ministers has been tasked with resolving all administrative and technical matters arising from the new decree to ensure its effective implementation across state electronic systems.
This move is part of Azerbaijan's broader strategy to align its national financial oversight mechanisms with international standards, particularly those set by global financial watchdogs. By integrating the Ministry of Health into the electronic data exchange network, the government seeks to strengthen the transparency of financial flows within the healthcare sector and prevent the misuse of funds for illegal activities. Azerbaijan has consistently updated its legal framework since 2022 to bolster its defenses against money laundering and ensure a secure economic environment in the country.
