A new board for the Financial Intelligence Centre – FIC has been unveiled with a reminder that its operations are 100% funded by government. The new board effectively terminates the contract of its controversial former board chair – John Kasanga.
The board appointment is in accordance with section 6 of the FIC Act number 46, of 2010. The new board is to be chaired by George Siame is expected to monitor and review the administrative performance of the centre in carrying out its functions under the act and approve the proposed budget of the centre.
Announcing the change at Ministry of Finance in Lusaka on September 10, 2019, the Ministry’s Minister Dr. Bwalya Ng’andu said other members include Hon. Justice Prisca Nyambe, Pelagia Kalunga, Mike B. Goma and Regina Mulenga who are further expected to approve policy guidance for the proper administration and management of the centre and review the implementation of cooperation agreements between the centre and domestic or foreign designated authorities.
Dr. Ngándu said the appointment comes at the back of the end of tenure of the previous board in January 2019. He has since commended members of the previous board for their tireless efforts in furtherance of the objective of the FIC and has also thanked Dr. John Kasanga for his contribution as interim board chair.
“I have no doubt that with your diversity and experience; you will be equal to the task and continue to make the financial intelligence centre the leading institution in the anti-money laundering and countering the financing of terrorism regime,” he said.
The Financial Intelligence Centre – FIC is a statutory body established under the financial intelligence centre act no 46 of 2010 (as amended by act no. 4 of 2016). It is an independent and autonomous government institution under the Ministry of finance.
The core function of the FIC is to receive and analyse financial transactions reports bordering on suspected money laundering terrorist financing and proliferation submitted to it by accountable institutions. The FIC is 100% funded by the ministry of finance.
