We have detected that the browser you are using is no longer supported. As a result, some content may not display correctly.
We suggest that you upgrade to the latest version of any of the following browsers:
close notification
Form
er Education Minister Kader Asmal has been selected to serve as
President of the Financial Action Task Force (FATF), which battles
international money laundering and terrorist financing.
Government spokesperson Joel Netshitenzhe made this announcement
following a cabinet meeting in Pretoria, earlier this week.
"Cabinet has accepted a request for South Africa to assume the
position of presidency of the FATF, an independent international
body with de facto responsibility for setting standards against
money laundering and terrorist financing," he said.
To reduce the vulnerability of the international financial system
to misuse by criminals, the FATF is also involved in examining and
identifying the serious and systemic weaknesses in the anti-money
laundering programmes of certain jurisdictions.
"The Secretariat for FATF is housed at the Organisation for
Economic Cooperation and Development (OECD)," said
Netshitenzhe.
The OECD, based in France, is an international organisation helping
governments tackle the economic, social and governance challenges
of a globalised economy.
Asmal has been selected to hold the position of presidency from
July, 2005, to June, 2006.
Meanwhile, various Bills including the Amendments to the National
Small Business Act which provide for the setting up of the Small
Enterprise Development Agency (SEDA), a merger between Ntsika and
National Manufacturing Advisory Centre were approved for submission
to Parliament.
Others were the SA Abattoir Corporation Act Repeal Bill, which
confirms the liquidation of Abakor and the Amendments to the Close
Corporation Act which provided for issues of liability and
accounting officer responsibilities. - BuaNews.
Map
