Zuma sitting on the Fica Bill

THE FINANCIAL Intelligence Centre Amendment Bill will not remain in limbo for too long, as President Jacob Zuma has less than three weeks to either sign it into law or return it to the National Assembly.

The bill is at the centre of the fight by various sections of society clamouring for Zuma’s hand to either to sign it into law or reject it.

The Council for the Advancement of the South African Constitution (Casac) yesterday said Zuma had not responded to its request to urgently sign the bill into law.

Casac has given Zuma 30 days to comply with its request or face legal action.

Casac executive director Lawson Naidoo said Zuma did not have to wait for too long on the legislation.

“Our position is that the president must either sign it; or if he has concerns, he has to send it back to Parliament,” he said.

This would give Parliament time to correct any defects it saw in the bill.

‘President can’t simply just do nothing’

Naidoo said Zuma could not simply do nothing on this legislation.

He said there was strong support for the bill in a large section of the business community, except for the Black Business Council.

The Progressive Professionals Forum, led by former government spokesperson Mzwanele Manyi, a few weeks ago asked Zuma not to sign the Fica legislation into law because of certain constitutional issues.

The bill calls on the banks to exercise enhanced due diligence on politically exposed people.

It was passed by Parliament in May, but Zuma has not signed it into law.

The bill seeks to clamp down on suspect bank accounts and transactions, and this is part of a global requirement in the fight against money laundering and financial terrorism.

The ANC Youth League also entered the fray at the weekend, saying it would ask Zuma not to assent to the bill.

But Naidoo said there was general support for this piece of legislation.

He said Economic Development Minister Ebrahim Patel had come out in support of the bill.

Patel was speaking at the Southern African Clothing and Textile Workers Union conference in Cape Town last week, when he called on the president to assent to it.

Zuma’s spokesperson Bongani Ngqulunga could not be reached for comment yesterday.

However, Zuma has said he was still considering the petition of the Progressive Professionals Forum not to sign the bill into law.

Zuma has not indicated how soon he could be in a position to sign it.

When the bill was discussed in Parliament, it was backed by all the parties.This led to its approval in May, and it was sent to Zuma for his signature.

But it has stalled, with Zuma not acting on it.