It is essential, however, that the new legislation should ensure that the business of such institutions is conducted in a safe and sound manner, conducive to the orderly growth of the financial sector, whilst contributing to poverty reduction in both rural and urban areas. Comment on the Dedicated Banks Bill and the Co-operative Banks Bill may be provided until the end of January 2005.
(iii)  Anti-money laundering  The Financial Intelligence Centre Act, 2001 (FIC Act), imposes duties on certain institutions to introduce anti-money-laundering measures, to train their employees, to report suspicious transactions to the Financial Intelligence Centre (FIC) and to retain client information.