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20 Jul 2020

Lukashenko hails Belarus’ anti-money laundering progress

Lukashenko hails Belarus’ anti-money laundering progress

MINSK, 20 July (BelTA) – Belarus shows good results in the international anti-money laundering rankings, Belarus President Aleksandr Lukashenko said as he met with the National Bank top executives on 20 July, BelTA has learned.

“We have been gradually liberalizing the financial and currency markets. However, easing the requirements does not mean lawlessness,” the Belarusian leader said.

In his words, the work should rely on international standards, especially in what concerns money laundering and financing of terrorism. “Belarus ranks 21st in the FATF [Financial Action Task Force] ranking. Russia goes 32nd, Switzerland – 35th, the United States – 37th, China – 84th,” Aleksandr Lukashenko said.

“However, with the case of Belgazprombank, we can see that there is still work to do. I should say that the chairman of the Board [of the National Bank] and the bank’s management will be held responsible for what is going on in our commercial banks,” the president said.

“This situation should be a lesson for the renewed Board of the National Bank. You have enough specialists but, unfortunately, your supervision has failed. I think you will make the appropriate conclusions,” the head of state said.

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