Tbilisi. On March 31, Transparency International Georgia released a blog post - "The Financial Monitoring Service should not be put under Executive Control”. MP Davit Onoprishvili’s legislative initiative to amend the Georgian law, "Facilitating the Prevention of Illicit Income Legalization,” was registered in the Parliament of Georgia in early March 2014. The bill envisages transferring Georgia’s Financial Monitoring Service from under the management of the National Bank to the Ministry of Finance. "On 20th March, before the first hearing in Parliament, the draft law was amended to put the Financial Monitoring Service under the governmental management rather than under the Ministry of Finance. But this change does not alter the substance of this draft law - which is to move the FMS to under the control of the executive. We believe this proposed arrangement will not guarantee the operational independence of the FMS", says the blog post.

Source:transparency.ge