MCP calls for independent Malawi Financial Intelligence Authority

Malawi Congress Party (MCP) has asked for neutrality in the appointment of Financial Intelligence Unit (FIU) officials including Director General for it to perform competently.

Kusamba-Dzonzi: Financial Intelligence body should be independent
Kusamba-Dzonzi: Financial Intelligence body should be independent

Currently there is a bill which if approved will see it being upgraded to Financial Intelligence Authority (FIA).

MCP spokesperson on Finance Alexander Kusamba Dzonzi made the call on Tuesday while commenting on a bill on financial crimes presented by the Minister of Finance, Goodal Gondwe.

The bill is aimed at upgrading the FIU to Financial Intelligence Authority with powers to prosecute financial crimes suspects.

The bill also prescribes stiffer punishments for terrorist financing and money laundering crimes with the former attracting a maximum sentence of life imprisonment and a K500 million fine and the latter a ten year sentence and K500 million in fines.

The bill also gives powers to the relevant minister to shortlist and conduct interviews for the Director General with the President giving final consent.

“I believe that if the Minister of Finance let alone the President is involved in the recruitment process FIA will be compromised.

“There are case files at the Anti-Corruption Bureau which are not making progress because of Executive influence. Neutrality of the organization can only be ensured if the appointment is done by the Public Appointments Committee of parliament,”  Dzonzi said.

People’s Party (PP) spokesperson on Finance, Ralph Jooma commended the Bill which he said needed to be passed as soon as possible to avoid financial catastrophe.

The Bill has since been referred back to the Legal and Budget committees of parliament for further scrutiny because of what members of parliament described as, “highly technical nature”.

Meanwhile, the 46th session of parliament continues in the capital city, Lilongwe.

Follow and Subscribe Nyasa TV :

Sharing is caring!

Follow us in Twitter
oldest most voted
Inline Feedbacks
View all comments
mavuto malawi
5 years ago

What is wrong with some Malawians. Everytime the opposition say something u attack them. MCP is The only natural party The rest are plastic parties made by family members. This Bill is good for Malawi. If opposition are asking for it To pass let it pass because they know it will affect them too. Everything or bill which is good for country which opposition have asked has not passed including independent ACB. In other countries ACB is independent. Also there is a commitee which forsee the the expenditure of the country. Up To day Malawians dont know how much APM… Read more »

concerned citizen
5 years ago

The Finacial Crimes Bill must be passed in this sitting of parliament. This is the duty of each MP.

5 years ago

Sometimes i wonder some demands. You know who is client number 1 of any intelligence in a country?? it is the president. the president is the client number 1 for National Intelligence; Military Intelligence and Financial Intelligence. The Demands by MCP clearly shows that they are out of touch on issues of Governance and management of intelligence. My take is comment on the contents of the bill that is when we can see that you know what you are talking not just a clause of the Act. The FIA will be independent as the person appointed by the president will… Read more »

Read previous post:
Woman wins K5mil in FDH bank Miliyonela promo: Tikhale Madula

FDH Millionaire Promotion ended on Tuesday when Tikhale Madula who works at Optichem walked away with a grand prize of...