Ashgabat hosted the 5th Forum of Parliamentarians of the Member States of the Eurasian Group on Combating Money Laundering and Financing of Terrorism (EAG). This authoritative event was held within the framework of the 44th plenary meeting of the EAG and became an important platform for exchanging legislative experience.
Today, under the leadership of President Serdar Berdimuhamedov, Turkmenistan is implementing a comprehensive strategy to modernize the national financial security system. Special emphasis is being placed on increasing the effectiveness of interagency cooperation and bringing this work to a fundamentally new level.
During the forum, Batyr Baylyyev, Chairman of the Mejlis Committee on Legislation and Its Norms, delivered a report devoted to Turkmenistan’s targeted efforts in the legal sphere. The speaker emphasized that partnership with the EAG provides a solid foundation for the country’s financial system amid the rapid development of global information technologies.
Turkmenistan is making every effort to implement FATF standards into national legislation and is studying the experience of other countries in combating money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction.
One of Turkmenistan’s achievements on the path toward creating a transparent digital environment was the adoption of the Law “On Virtual Assets.”
“Last year, the Law of Turkmenistan ‘On Virtual Assets’ was adopted, regulating relations arising in the creation and circulation of virtual assets in Turkmenistan and defining their legal, economic, and organizational foundations. The adoption of this legislative act is an important step toward improving the country’s digital economy,” noted the chairman of the relevant committee.
B. Baylyyev stated that amid the global transition to digital finance, the regulation of virtual assets is becoming a strategically important advantage. In turn, this law is creating a new sector — the digital financial market — which includes a virtual asset exchange and positively contributes to the development of IT culture.
Another important element of the country’s comprehensive security remains the Law of Turkmenistan “On Cybersecurity.” B. Baylyyev recalled that this legal act performs several vital functions simultaneously.
“The Law of Turkmenistan on Cybersecurity regulates the national interests of our country and prevents the use of cyberspace for terrorist, military, and other unlawful purposes. It also creates opportunities for ensuring international cooperation in the field of cybersecurity, developing joint approaches to counter cyber threats, and consolidating efforts in the investigation and prevention of cybercrime,” said B. Baylyyev.
As part of a comprehensive approach to addressing the pressing challenges of modern times, the Concept for the Development of the Digital Economy in Turkmenistan for 2026–2028 has also been approved. This strategy provides for a transition to advanced technologies, including artificial intelligence, cloud and financial solutions, as well as the introduction of an e-government system.
The forum once again confirmed Turkmenistan’s commitment to integrating into the international financial monitoring system and creating a secure and innovative economic model.
