FICA AMENDMENT HEARINGS
Team Zuma and Team Pravin to lock horns
The protracted fight between pro-Gupta lobbyists and the Treasury comes into focus at the FICA amendment hearings
The protracted fight between pro-Gupta lobbyists and the Treasury, backed by the country’s top legal brains, over the Financial Intelligence Centre Amendment Bill will play out in Parliament on Wednesday when the finance committee holds public hearings on it. On one side there will be the Black Business Council (BBC), backed by the Progressive Professionals Forum (PPF) led by Mzwanele Manyi, which will call for the bill to be scrapped in its entirety. The bill was referred back to Parliament by President Jacob Zuma because of concerns over its constitutionality. There were suggestions on Tuesday that their case will be supported by the security cluster of departments, which would argue that SA’s security and intelligence agencies have sufficient means at their disposal to combat money laundering and the financing of terrorism, the main aims of the bill. The bill also seeks to strengthen the monitoring by banks and other accountable institutions of politically exposed persons and any...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.