By Wesley Spartan
Uganda’s financial Institutions will be blacklisted from operating with foreign banks if in two weeks the Anti-Terrorism amendment Bill of 2002 is not passed by Parliament and assented to by the President.
According to the draft bill, any person who willingly collects or provides funds directly or indirectly by any means with the intention that such funds will be used for terrorism activities will be liable for the offence of terrorism financing.
The Financial Action Task Force, a Global Anti money laundering Agency, has already issued a warning to Uganda to expedite the process to legislate against Terrorism Funding
Experts predict that the consequences of the blacklist will have dire consequences on the fragile Ugandan Economy.
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