Gov’t approves Anti-Money Laundering Amendment bill in fighting terrorism

By Charles Katabalwa

5^th Feb 2019

Cabinet has approved the Anti-Money laundering (amendment) Bill, 2018 as part of the efforts to fight terrorist.

Col. Shaban Bantariza, the Deputy Government Spokesperson, told the media today that the anti-money laundering (amendment) bill, 2018 will help the country to attain international cooperation in the fight against money laundering and terrorist financing investigations.

This was while releasing the cabinet decisions that were approved on Monday at State house Entebbe in a meeting chaired by President Museveni.

Bantariza adds that as a result, Uganda will be admitted into the Egmont group (a united body of 155 financial intelligence units) for easy services and give a chance to 155 agencies worldwide to track anybody caught in money laundering.

Meanwhile, Cabinet also approved the transfer of the interest in Block 1, 1A, 2 and 3A by Tullow Uganda Operations PTY Limited and Tullow Uganda Limited to Total E&P Uganda B.V and CNOOC Uganda Limited to support the first tracking of Oil and Gas production in Uganda.