Information on AML/CTF measures – Eurasian Development Bank
The Eurasian Development Bank (hereinafter – Bank, EDB) is an international financial institution founded on January 12, 2006 by the Heads of the Russian Federation and the Republic of Kazakhstan by signing the international Agreement on establishing the Eurasian Development Bank. Having the status of an international organisation EDB is regulated by international law and is headquartered in Almaty, Republic of Kazakhstan.
Currently the Bank’s member states are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation and the Republic of Tajikistan.
Being regulated by international law, having a special legal status and privileges, EDB operates as an international financial institution based on generally recognized principles and norms of international law.
Protecting its reputation and maintaining the highest professional standards, the Bank takes all necessary measures to prevent its involvement in illegal financial operations and activities related to money laundering, terrorist or proliferation financing (hereinafter – AML/CTF).
EDB has developed and maintains an AML/CTF system, which is aimed at revealing and managing the ML/TF risk and other associated risks, including image risk. The AML/CTF system covers all regional divisions of the Bank, regardless of their status (branch/representative office) or location.
The AML/CTF system ensures that all Bank employees regardless of their position participate in the process of AML/CTF internal control in line with their competence and functional responsibilities. EDB has appointed a responsible AML/CTF officer (AMLO), who is in charge of observance of the Bank’s existing AML/CTF internal rules. A special designated unit which is part of Security and Compliance Control Department acts as an AML/CTF Division (hereinafter – AML/CTF Division). It coordinates the AML/CTF activities and ensures the implementation of AML/CTF internal control rules.
The Bank has developed its internal AML/CTF regulatory documents on the basis of Financial Action Task Force (FATF) Standards, Basel Committee on Banking Supervision and Wolfsberg Group documents, as well as on applicable national AML/CTF laws and regulations of Bank's member states and best practice of global financial institutions.