The Eurasian panel for anti-money laundering and anti-terror financing announced its establishment in Moscow on October 6. Li Ruogu, vice president of the People's Bank of China signed the establishment declaration on behalf of the Chinese Government.

China, Russia, Kazakhstan, Tajikistan, Gyrgyzstan and Belarus are the initiator member countries of the organization.

Viktor Zubkov, head of the Committee for Financial Monitoring, was appointed to be the chairman of the panel and Rustam A. Ibraimov, first deputy director of the General Department of Fight Against Economic Crimes of Kazakhstan the vice chairman.

Countries and organizations such as that Georgia, Uzbekistan, Ukrain, Italy, Britain and the United States and Financial Action Task Force, the World Bank, the International Monetary Fund (IMF), the Collective Security Treaty Organization, the Eurasian Economic Community (EEC), the International Criminal Police Organization (ICPO) and UN Office for Drug Control and Crime Prevention, are set to be the observers of the organization.

Sources say the first plenary conference of the panel is scheduled to convene in Moscow in December 2004.

By People's Daily Online