Anti-money laundering and combating financing of terrorism bill passed
02 Apr 2014, 3:52 PM
Parliament yesterday passed legislation on anti-money laundering and combating the financing of terrorism (AML/CFT) following review by the national security committee.
All 53 MPs in attendance at yesterday’s sitting voted in favour of passing the bill.
Presenting the committee report (Dhivehi) to the Majlis floor, MP ‘Reeko’ Moosa Manik, chair of the national security committee, explained that the legislation introduces rules governing financial transactions and the inflow and outflow of money from the Maldives.
The bill will also address the persisting dollar shortage, the foreign currency black market, and counterfeiting of dollars, Moosa added.
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