Banks, FIA face scrutiny over forex externalisation
The Bankers Association of Malawi and the Financial Intelligence Authority have given conflicting statements about a foreign‑exchange matter. Their accounts have led to questions regarding possible involvement of some commercial banks and bank employees in illegal foreign‑exchange externalisation. The issue was highlighted during a meeting of the Parliamentary Committee on International Relations on Tuesday. Representatives from both the bankers’ group and the intelligence authority attended the session. The Financial Intelligence Authority said it had encountered evidence suggesting wrongdoing. The public report on the matter appeared on Nation Online.
Contradictory accounts by the Bankers Association of Malawi (BAM) and the Financial Intelligence Authority (FIA) have raised questions of possible involvement of some commercial banks and their employees in illegal foreign exchange externalisation. The details emerged on Tuesday during a Parliamentary Committee on International Relations meeting with BAM and FIA. FIA says it has encountered … The post Banks, FIA face scrutiny over forex externalisation appeared first on Nation Online .