MFI, Securities Bills pass

THE House of Assembly on Tuesday passed the Micro Finance Bill and the Securities Amendment Bill which seek to deal with corruption among other issues in the financial sector.

Report by Veneranda Langa

They also endeavour to provide supervisory and regulatory frameworks to tackle nefarious practices of exorbitant interest rates in the micro-finance sector and white collar crimes in the securities sector.

During debate on the Second Reading Stage of the Micro Finance Bill, Finance minister Tendai Biti said he was also planning to effect amendments to the Finance Act next month  when he announces the mid-term budget review statement.

“We are going to come up with a Finance Act in June when we do the mid-term statement so that we deal with some of these minor issues,” he said.

The minister said amendments to the Banking Act were also at an advanced stage and will be gazetted soon.

“I am pleased to say that we approved major amendments to the Banking Act last week and I hope that in the next two weeks they will be gazetted.”

Biti also disclosed that a comprehensive Bill to deal with anti-money laundering will also be brought before Parliament.

“On anti-money laundering, I want to assure the House that we have a comprehensive Bill that is going to deal with anti-money laundering and terrorism which is consistent with United Nations protocols.

“In fact, right now we are actually under the threat of sanctions because of us not passing the Bill,” he said.

He said the Cabinet Committee on Legislation will meet today to discuss the Bill.
The Micro Finance Bill and the Securities Amendment Bill are now before Senate for scrutiny before they are sent to the President to be signed into law.

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16 Responses to MFI, Securities Bills pass

  1. maone May 16, 2013 at 7:24 am #

    Tendai unogona

  2. Mbombo May 16, 2013 at 7:49 am #

    Biti wabvuma ka nhasi kuti maSanctions? Chitaurira mukomawako Tsvangirai , kuti ataurire mhomho yeZimbabwe kuti maSactions aripo ende anofanirwa kubviswa ose nhasi chaiye.kwete kunyepera vanhu muchiti hakuna masanctions iwo aripo. Pamberi nekutaurira vanhu chokwadi! Pamberi neZANU-PF!

    • matimadi May 16, 2013 at 8:54 am #

      mbombo unonzwa chirungu here iwe zanu nevanu vamuri kuuraya zvakuku pengesa

    • Mbombi May 16, 2013 at 12:59 pm #

      Biti says we are under threat of sanctions for not passing the Bill which means that we are not yet under any sanctions. Iwe Mbombo enda ku skuru mhani, chero night skuru zvayo inokubtsira kunzwisisa simpe english

    • manomano May 16, 2013 at 4:22 pm #

      Chirungu chinonetsa vakawanda. Zvanzi we are under threat of sanctions

  3. localobserver May 16, 2013 at 9:40 am #

    mbombo nyatsoverenga unzwisise chirungu. you have to understand the context mhanhi. kwete kungot pese pese pakanz sanction wotomhanya kutaura zvisina basa

  4. Tsanoz May 16, 2013 at 9:49 am #

    Mbombo you are a tool. In fact if you read carefully you will realise that Biti actually makes the point that there are no sanctions over Zimbabwe.

  5. matimadi May 16, 2013 at 10:00 am #

    dnt wrry abt mbombo hamuzivi here kuti mazanupf ese dzaharahwa vakunyengedzwa ne sweet sekacheche kungogona kuverenga word rinoti sanctions chete zvimwe zvose hapana chanzwikwa kkkkkkkkk

  6. The Future Zim 2025 May 16, 2013 at 10:47 am #

    Guys don’t waste your time on people like Mbombo. They are the past & we are the future. Let us continue rebuilding our beloved country which was destroyed by Mbombo & his Zanu PF. Let us build strong institutions in our country that are bigger than individuals

  7. Kufandada May 16, 2013 at 12:12 pm #

    Reporter should have reported on the main issues addressed by the bills.What exactly do they seek to do

  8. john May 16, 2013 at 1:01 pm #

    mbombo is very illetarate. the only word he managed to pick out was sanctions and he then goes on to repeat the same mantra you would expect from a zanu. do these zanu supporters not have their own point of view????

  9. Mbombo May 16, 2013 at 7:23 pm #

    @MATIMADI, MBOMBI, MANOMANO, TSANOZ, KUFANDADA Nevamwe vese. Ndadzoka ini mbombo nekusafunda kwangu, Imi magraduates chindi tsananguririwo zvinoreva mutsara uyu: ‘infact, right now we are actually under the threat of sanctions’ isu vasina kufunda tinoti Biti arikuwhanda nemunwe nekuti haagone kutaura nechinhu chisipo. Kana achauya maSanctions acho anenge aakuuyirei? Kana kusina tino taurireyi nezvawo isu tichiti hakuna zvakadaro? Ndinovimba imi vana muzvina fundo muchanyatso dedemura nemazvo kuti mutsara uripamusoro uyo unorevei. Musandituke henyu ini handina kufunda.

  10. student May 16, 2013 at 9:53 pm #

    mbombo u got a very seriouse problem , if were u i wld take this advise ” don’t comment on public sites if not sure w wht u want to say”.

  11. Toitoi May 17, 2013 at 7:19 pm #

    Mbombombo zita rake rinozvidudza musanetseka naye

  12. Toitoi May 17, 2013 at 7:24 pm #

    Mbombombo nhai munonetsekerei naye hamuoni kuti zita racho rinodudza zvaari

  13. md May 17, 2013 at 9:45 pm #

    the report talked about the finance act and banking act and anti money-laundering and a few sentences about the headline. Please improve the reporting by giving us facts and not to just qoute something that is just by the way. And mbombo economic sanctions are there but what mr biti is acknowledging here is the fact that we have the threat of receiving fresh sanctions specifically for this money-laundering bill.

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