Published On: Thu, Mar 12th, 2015

Financial experts: “Amendment sanction law important”

FinancialWILLEMSTAD – During the parliamentary meeting on the sanction law yesterday, representatives of the financial organizations CIFA and IFG and also the banking organizations CBA and IBA gave a presentation on the consequences if parliament decides not to amend the sanction law. The financial experts indicated that without the amendments to this law, the financial sector of Curaçao is in great danger.

The committee on money laundering (CIWG) was also present. They were invited by the Central Committee of Parliament to give their views on the importance of the sanction law, which was rejected by a majority in parliament recently.

The invited parties did their utmost to persuade the MPS who wants to vote against the legislative adaptation by indicating to them that this is not wise. The amendment of the sanction law focuses on combating money laundering and terrorist financing.

For the international financial world, it is of great importance, said the President of the Curacao International Financial Services Association (CIFA), Anuschka Cova. Curaçao can be added to the international blacklist of unreliable financial countries if this amendment is not adopted.

Image: Financial sector representatives in parliament.

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