At the Cabinet session held on 5 October President of Turkmenistan Gurbanguly Berdymukahmmedov renamed the Financial Monitoring “Directorate” under Turkmenistan’s Finance Ministry into “the Service”.
The reasons behind renaming the agency are unknown.According to the state information agency TDH, the Service is being established with a view of fulfilling the objectives set forth in Turkmenistan’s law On combating money laundering and financing of terrorism and international agreements.
At the same time, the head of the state was quoted as saying that “Turkmenistan is implementing comprehensive measures in this area and has been acknowledged the state which poses no risk for financial transactions”.