It [Fica Bill] is a very important tool in the fight against corruption.— Ismail Momoniat, Treasury
We are happy with the Bill as it was sent to the President.— Cas Coovadia, Banking Association South Africa
President Jacob Zuma has ordered Parliament to reconsider the Financial Intelligence Centre Amendment Bill (Fica Bill).
Zuma objects to provisions relating to warrantless searches which, according to him, are unconstitutional.
However, according to Treasury, objections against the Fica Bill are not based on legal opinion.
The Money Show’s Bruce Whitfield interviewed National Treasury Deputy Director General Ismail Momoniat and Banking Association South Africa Managing Director Cas Coovadia.
Listen to the interviews in the audio below (and/or scroll down for more quotes from it).
This legislation is important because it modernises how we deal with money laundering.— Ismail Momoniat, Treasury
We need to show our standards are as high as everybody else’s.— Ismail Momoniat, Treasury
For South Africa’s sake – we need to deal with money laundering.— Ismail Momoniat, Treasury
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby THE NEWSROOM
For centuries it had abundant water supplies. That's over. Bruce Whitfield interviews Future Water Institute’s Dr Kevin Winter.
The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator’s Pavlo Phitidis.
Naspers constitutes a whopping 20% of the Top 40 index. Bruce Whitfield interviews Personal Financial Advisor Warren Ingram.
Jacob Zuma won’t sign the corruption-fighting Fica Bill, citing warrantless searches of powerful people the Bill targets.
Treasury wants to amend Fica to fight corruption. Bruce Whitfield interviews Stuart Theobald and Steven Powell.
Treasury wants legislation to help it keep tabs on individuals in positions of power in the public and private sectors.
Stephen Rathai, director of employment standards at the Department of Labour talks on the new national minimum wage.
AfriForum says it has laid criminal charges against the EFF's Malema, Ndlozi and Shivambu for incitement to commit violent crimes.
Stabbing and mugging attacks this past weekend left visitors concerned about safety on Table Mountain and other hiking trails.
Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)
The Asset Forfeiture Unit is gunning for the Guptas, says City Press. Bruce Whitfield interviews ENS Africa’s Steven Powell.
‘You'd have a gin and tonic & you’d find hold on, that’s not tonic water I’ve put in there, that’s soda water' - Stephen Grootes
"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.