It has been reported that a Council of Europe group, MONEYVAL, which assessed efforts to fight money laundering has said that there is no need to apply a special monitoring regime to Azerbaijan. The decision came after discussions at MONEYVAL’s general meeting last month. According to the Financial Monitoring Service under the Azerbaijan Central Bank, a report assessing measures taken in the country to counter money laundering and terror financing was submitted at the meeting. MONEYVAL decided not to subject Azerbaijan to a special monitoring regime. MONEYVAL was set up in September 1997 by the Committee of Ministers of the Council of Europe to conduct self and mutual assessment exercises of anti-money laundering measures in place in Council of Europe member states, which are not members of the Financial Action Task Force (FATF).