By Juliet Nalwooga
The minister of finance Matia Kasaija has tasked the permanent secretary to the treasury to source additional funding to the Financial Intelligence Authority (FIA).
Speaking during the inauguration and swearing-in ceremony of the third FIA board of directors, Kasaija noted that Uganda is still stuck on the Financial Action Task Force grey list and that the country has so far achieved 21 out of 40 international standards against Money laundering.
The additional funding will be directed at improving FIA staffing, reviewing and amending the Anti-money laundering Act.
Kasaija has also tasked the incoming chairperson of the new FIA board of directors Alinaffe Kalule and his team to oversee the success of operations like national risk assessment and increase vigilance against money laundering and financing of terrorism.
The Financial Intelligence Authority (FIA), is a government agency established in 2014 to monitor, investigate, and prevent money laundering in the country.