“It doesn’t matter what colour your skin colour is‚ you must abide by the law‚” Yunus Carrim said of the contentious Financial Intelligence Centre Amendment (Fica) Bill. He was speaking a day after Progressive Professionals Forum (PPF) president Mzwanele Manyi vowed to take President Jacob Zuma to court if he signs the bill into law‚ telling Parliament the legislation would “plunge this country into crisis”. He made this submission on Wednesday to Parliament's finance committee‚ whose chairperson‚ Carrim‚ countered on Thursday morning that scrapping the bill‚ as Manyi proposed‚ “would be disastrous for the economy‚ not just the financial sector”. Zuma returned the bill to Parliament last year‚ citing concerns that a clause allowing for searches without a warrant was unconstitutional because it limited the right to privacy. The PPF and the Black Business Council (BBC) have vehemently opposed the bill - written to combat corruption‚ white collar crime‚ terrorism and money laundering b...

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.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.