FINANCIAL Intelligence Centre (FIC) acting director general Liya Tembo says the Zambia Institute of Banking and Financial Services Bill which was recently withdrawn from Parliament has progressive provisions which only need fine-tuning. The parliamentary committee for planning and budgeting recently rejected the Zambia Institute of Banking and Financial Services Bill on the basis that the financial sector is already regulated by the Bank of Zambia, Securities and Exchange Commission and the Pensions and Insurance Authority, whose mandate extends to setting standards of behaviour for the individual entities and respective markets they supervise. Meanwhile, Finance and National Planning Minister Dr Situmbeko Musokotwane withdrew the bill which was at Second Reading stage, to allow for further consultation on the proposed pieces of…...

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