Agreement signed at the end of EAG meet held in China

India on Thursday inked an agreement with the Eurasian Group (EAG), a group that enforces anti-money-laundering standards in the region.

According to an official statement here, following Cabinet approval for the agreement earlier this month, the pact was signed by Department of Economic Affairs Joint Secretary (Capital Markets) Thomas Mathew, who is heading a six-member Indian delegation at the 15th plenary meeting of the EAG on combating money laundering and financing of terrorism being held at Xiamen in China.

The Indian delegation's participation and contribution in the plenary meeting and working groups was appreciated by the EAG Secretariat, member countries and observers, the statement said. India also offered assistance to member nations in enhancing their technical skill for establishing better financial systems, capital market monitoring and surveillance through sophisticated IT tools. Help was also offered in drafting legislation and law enforcement techniques.

The EAG is a FATF- (Financial Action Task Force) styled regional body with nine members, including India, Russia and China, and 29 observers, of which 12 are countries and 17 are international organisations. India was accorded membership in the EAG in December last year.

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