VNPF NEWS UPDATE
VFSC CEO Mr Branan Karae and VNPF General Manager Mr Parmod Achary
The Vanuatu National Provident Fund (VNPF) and Vanuatu Financial Services Commission (VFSC) signed a Memorandum of Agreement on Friday 21 August 2020 in VNPF Conference Room in Port Vila.
The MOU was officially established between VNPF General Manager Mr. Parmod Achary and the VFSC Chief Executive Officer Branan Karae.
The purpose of the Signed Agreement is to enable the two institutions to share information which will enable them to perform their duties effectively and within their respective jurisdictions.
The MOA will enable them to cooperate in identifying and disseminating relevant information relating to financial transactions; in particular money laundering, financing of terrorism or any offence administered by both parties.
The MOA will strengthen the activities related to compliance and the rule of law within Vanuatu National Provident Fund and Vanuatu Financial Services Commission.
General Manager Achary stated that he will send VNPF staff to VFSC to request copies of documents relevant to specific investigations or prosecution on any employers who may have been involved in any financial scandal. The staff will also have the opportunity to familiarize themselves with the recording system of VFSC which will allow them to carry out their work in a more efficient way.