The Reserve Financial institution of Malawi and the Monetary Intelligence Authority (FIA) have revealed that they haven’t but performed investigations to determine the authenticity of allegations that the Victoria Foreign exchange Bureau is concerned in unlawful monetary transactions.
In current days, the media has been flooded with experiences that the workplace’s proprietor, Zubair Osman, is utilizing the group as a entrance for an unlawful financial institution.
Nevertheless, each the Central Financial institution and the FIA revealed that they haven’t performed any investigation to find out that the workplace is concerned in illicit monetary transactions.
RBM spokesperson Davie Ndege mentioned RBM has not investigated the matter to conclude that Osman is concerned in unlawful transactions or any violation associated to the abuse of his license.
“RBM conducts common on-site inspections and off-site enterprise critiques of all licensed foreign exchange bureaus in Malawi to verify compliance with related legal guidelines and laws and we’ve by no means discovered something flawed with Victoria Foreign exchange Bureau,” he mentioned.
On his half, the FIA spokesperson, Masautso Ebere, mentioned they aren’t conscious of any unlawful financial institution working and not using a license within the nation.
In an interview, Zubair Osman’s lawyer Lusungu Gondwe of Ritz Attorneys mentioned he’s not shocked by RBM’s assertion because it validates his earlier claims in opposition to his consumer.
“We aren’t shocked that RBM discovered nothing to incriminate our consumer. That’s precisely what we advised PIJ. But they proceeded to publish what actually is by all requirements a really unauthentic story, a narrative and not using a grain of fact.” , mentioned.
Gondwe challenged UK-based Pakistani Max Pathan, on whose testimony the PIJ story hinges, for use for scrutiny.
“For starters, our consumer has it on good authority that Max Pathan would not exist. He ought to simply produce his IDs so everybody can see the reality. The man is a ghost. He is PIJ’s major supply, although. Additionally, the our consumer doesn’t deposit K400 million day by day within the Nationwide Financial institution of Malawi Plc and we are able to present you financial institution statements with proof,” he mentioned.
Gondwe introduced the Victoria Foreign exchange Bureau’s July assertion for Nationwide Financial institution, whose day by day deposits ranged from €8 million to €40 million.
He added that one other concern that raises doubts about the entire story is that the cell numbers quoted within the article usually are not Osman’s.
PIJ reported that British nationwide Zakir Mussa dragged Osman in addition to Moshin and Mohammed Mussa for allegedly defrauding him of the three billion Kóws he had lent to the Mussa brothers.
However Gondwe maintains that the case was already dismissed by Justice Msungama final 12 months.
“In any case, Mr. Zakir Mussa sued our consumer earlier than Justice Msungama, who clearly held that it seems that Zakir Mussa isn’t positive who to go after. The decide dismissed Zakir Mussa’s request to proceed in opposition to our consumer. Zakir Mussa was even ordered to pay prices to our consumer,” he mentioned.
Within the case, Zakir sought so as to add Osman to a case by which he was suing the Mussa brothers, case quantity 226 of 2020 within the Industrial Courtroom.
However Excessive Courtroom Choose Msungama dismissed Zakir’s utility.
A part of the judgment reads: “It seems to me that the plaintiff isn’t positive who to look to in relation to the funds in query. In a single breath, the plaintiff claims that the defendants obtained the funds, and then again, he seems to be saying that the purported defendant did not observe his directions when he obtained plaintiff’s funds and did not go the funds to defendants. These two factual allegations are inconsistent with one another.”
Gondwe additional alleges that what is obvious is that Zakir Mussa merely desires to harass Osman.
“Our consumer believes that every one this unfavorable publicity attributable to Zakir Mussa is as malicious and capricious as it’s dangerous religion. If Zakir Mussa believes he has a robust case, he ought to pursue the identical in court docket. Don’t resort to media harassment,” he mentioned.
For its half, PIJ says it appreciates the findings of RBM and the FIA, however says it can’t remark additional.
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