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Working group set up to consider legal and regulatory framework for Gaming…

Finance Minister Larry Howai

Finance Minister Larry Howai

A Finance and Economy Ministry statement says a new comprehensive legislative framework will be put in place that promotes responsible gambling and protects the vulnerable.

The Ministry notes the move is in keeping with Anti-Money Laundering/ Counter Terrorist Financing requirements.

The Ministry notes that apart from the Private Members’ Clubs’ devices, there may exist in excess of 25,000 Video games and devices operating in bars and recreational pubs across the country.

The release explains that over the years Private Members’ Clubs have been engaging in Casino type activities, and according to the international regulatory body, the Financial Action Task Force (FATF), which continues to monitor the local industry by 2009 the sector consisted of close to 70 operational Private Members’ Clubs.

A working group the Ministry says has been established to consider draft legislation for the legal and regulatory framework for the gaming industry.

The proposed Working Group includes representatives from the Ministries of Finance , Trade and Investment , National Security, People and Social Development and the Office of the Attorney General.

To ensure openness, transparency, accountability and involvement, stakeholders’ consultations have been planned and the services of an internationally-recognized consultant have been sought to provide technical and legal advisory services to the Working Group.