Bosnian state ministers on Thursday adopted and sent to parliamentary procedure a new legislation, meeting one more condition from the list of 14 priorities set by the European Commission.

The ministers adopted the Proposal of Law on Prevention of Money Laundering and Financing of Terrorist Activities, which is harmonised with the European Union's directives and regulations in that area.

By adopting this law, Bosnian authorities are improving the capacities for a more efficient fight against money laundering and financing of terrorism in favour of the business community and citizens of BiH.

The Proposal of Law on Prevention of Money Laundering and Financing of Terrorist Activities is one of the key priorities from the European Commission's Opinion and the Council of Minister has sent a strong message by adopting the legislation amidst the ongoing European Council meeting, which is among other issues discussing the enlargement as one of the main topics.

The law is harmonising the system of prevention of money laundering and financing of terrorism in BiH with the standards of Moneyval and the Financial Action Task Force from the latest evaluation round.

The current composition of the Council of Ministers adopted earlier this year the Amendments to the Rulebook on the Implementation of the Law on Prevention of Money Laundering and Financing of Terrorist Activities.