South African Banks Want Zuma to Pass Money Laundering law
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The Banking Association of South Africa, which represents the country’s biggest banks, wants President Jacob Zuma to pass the Financial Intelligence Centre Amendment Bill , which targets money laundering.
“We have full faith in the South African Reserve Bank and we are happy with the FIC amendment bill,” said BASA’s Managing Director Cas Coovadia on Tuesday. “We have to abide by international best practice on money-laundering.”