SARAJEVO, February 16 (FENA) – The House of Peoples of the Parliamentary Assembly of Bosnia and Herzegovina (BiH PA) adopted today the Law on Prevention of Money Laundering and Financing of Terrorist Activities, which has been set as one of the conditions for the start of the negotiations with the European Union.

The delegates of the House of Peoples also accepted the conclusion proposed by the second deputy speaker of that house, Nikola Špirić (SNSD), which tasks the secretaries of both houses of the Parliamentary Assembly to correct the normative and technical errors contained in the opinion of the legislative sector in cooperation with the proposer of the law to remove possibilities for different interpretations.

By adopting this law with the label ‘EI’, Bosnia and Herzegovina wants to improve capacities for a more efficient fight against money laundering and terrorism financing for the benefit of the business community and citizens of BiH.

The law on prevention of money laundering and financing of terrorist activities is one of the 14 key priorities from the opinion of the European Commission, and with its adoption, the BiH Council of Ministers, while waiting for a date for the opening of negotiations, sends a strong message to the European Council, which is discussing the EU enlargement policy.

The new law harmonizes the system of prevention of money laundering and terrorism financing in BiH with FATF and Moneyval standards from the last round of evaluation.

Today’s emergency session of the House of Peoples of the BiH Parliamentary Assembly ended with the adoption of this law.