Anti-money Laundering should be tactical to avoid market distortions!
Kelvin Chisanga
Anti-money Laundering should be tactical to avoid market distortions!
Personal Viewpoint by Kelvin Chisanga +260 97 9305194
A good effort championed by various statutory bodies and law enforcement agencies to salvo this nation from the tendencies of corrupt activities and elements is one step to building ethical and moral fibre in many social, institutional and economic spheres.
At current levels, Zambia’s domestic currency has been witnessed a relatively changed position in terms of circulation performance, the economy is presently facing a short-fall of about K8.5 Billion in circulation, a figure that is assumed to be out of the normal circulation based on the total circulation capacity of about K106 Billion cash (for the good flow of our domestic market and to make end meets on the domestic activities and interactions), however, in terms of a percentage value of the short-fall, we are currently seeing it represented in the region averaging to just about 8%.
This issue of hoarding cash at various homes is really suffocating the local economy, as there is a reduced exchange within the local market and we briefly attest to some few weeks ago where we have had some shortages of a bigger Kwacha notes, as the corrupt draft fight taking rampant sound, there were multiple withdraws only to keep at home amounting to K8 Billion plus and this partially made the market to start responding negatively by placing high demands on the bigger Kwacha bills and some banks were even gracious enough to seek out for those long standing customers on their banking profile.
I also suggest that the current investigations of money Laundering should be tactical to avoid market distortions as certain media sentiments are quite alarming thereby sending strong messages to the patterns of performance which may hinder recent positive records of good investor confidence.
My suggestion is that there should be an outflow of progressive communication from just one tactical and official point of contact so that we don’t see all law enforcements or statutory bodies supplying the public with varying and scarily information from different channels. I think the fight needs to modelled with a good strategy in order to increase on its relevance and for the good of the nation.
Economic growth can be seen from transparency and accountability, we need strong framework with the institution of governance. We equally need to revise or re-doctor our legal policies on corruption so that we can build strong, robust and resilient systems of state governance.
Personal Viewpoint by Kelvin Chisanga +260 97 9305194
A good effort championed by various statutory bodies and law enforcement agencies to salvo this nation from the tendencies of corrupt activities and elements is one step to building ethical and moral fibre in many social, institutional and economic spheres.
At current levels, Zambia’s domestic currency has been witnessed a relatively changed position in terms of circulation performance, the economy is presently facing a short-fall of about K8.5 Billion in circulation, a figure that is assumed to be out of the normal circulation based on the total circulation capacity of about K106 Billion cash (for the good flow of our domestic market and to make end meets on the domestic activities and interactions), however, in terms of a percentage value of the short-fall, we are currently seeing it represented in the region averaging to just about 8%.
This issue of hoarding cash at various homes is really suffocating the local economy, as there is a reduced exchange within the local market and we briefly attest to some few weeks ago where we have had some shortages of a bigger Kwacha notes, as the corrupt draft fight taking rampant sound, there were multiple withdraws only to keep at home amounting to K8 Billion plus and this partially made the market to start responding negatively by placing high demands on the bigger Kwacha bills and some banks were even gracious enough to seek out for those long standing customers on their banking profile.
I also suggest that the current investigations of money Laundering should be tactical to avoid market distortions as certain media sentiments are quite alarming thereby sending strong messages to the patterns of performance which may hinder recent positive records of good investor confidence.
My suggestion is that there should be an outflow of progressive communication from just one tactical and official point of contact so that we don’t see all law enforcements or statutory bodies supplying the public with varying and scarily information from different channels. I think the fight needs to modelled with a good strategy in order to increase on its relevance and for the good of the nation.
Economic growth can be seen from transparency and accountability, we need strong framework with the institution of governance. We equally need to revise or re-doctor our legal policies on corruption so that we can build strong, robust and resilient systems of state governance.
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