The story begins in October 2012. The government of Angola, home to some of the largest oil reserves in Africa, founded a sovereign wealth fund to invest oil export revenues long-term. Angola was to follow the example of Norway, which has cultivated such a fund for decades. The Scandinavian country uses this reserve to prepare […]

The Commission is today issuing Instruction Number 01/2016 for Financial Services Businesses and Prescribed Businesses replacing Instruction No. 04/2015 issued on 19 November 2015. Myanmar has now been added to Part B of the Instruction which lists countries and territories with improving Global AML/CFT Compliance. This means that financial services businesses and prescribed businesses may […]