On the specific questions, we are responding to the current challenges which are not only national but global—terrorism, money laundering, and corruption—and whose consequences are dire. Third, we serve always and everywhere in accordance with the Constitution and all applicable laws. Nevertheless, a collaborative effort with all bodies is called for. In particular, we appreciate the National Assembly’s role and welcome its support.
If you will allow me, Hon. Members, I will now explain the recent Amendment to the Banking Act, (Section 33C) how CBK has acted to implement it, the difficulties in implementing this Amendment, and what is at stake. I will also explain the background to CBK’s circular on large cash transactions.