That as such is not a problem. What is utterly consternating, though, is the revelation that the moneys are being held over there solely for and on behalf of half-a-dozen of so Tanzanians ? yes; you got that right first time: Tanzanians! (The Citizen: June 23 and 25...; Mwananchi: June 26, 27... 2012).
Not only are the accounts secret in the true tradition of Swiss Banking, with details of the Tanzanians involved virtually being Swiss State Secrets. Not even the Government of Tanzania as such can prise the details out of the bankers in Switzerland ? nor even the United Nations or any other so-called ?world body'...!
If my memory serves me a-right, although Switzerland does host a bazillion UN and other international agencies, the country is itself not a member of the UN, you see? And, this is despite the fact that the Swiss Confederation phased out (under intense global pressure) what had become infamous as ?secret bank accounts? in 1992 so that, ostensibly, details thereof ? in theory, at least ? could be accessed virtually by anyone (?).
Don?t let that fool you! Details of the accounts can be accessed only either via a clear, unequivocal directive of the account holder to that end ? or a Judicial Order of an accredited Judge through proper and full legal proceedings in that country.
The only reason(s) why a person ? any person, including Tanzanians ? would want to stash money in secret ?off-shore? bank accounts is/are to evade/avoid taxes, and/or to hide the source(s) of the ?loot.? This is especially if it is laced with elements of criminality. And, surely, the onus of disproving all that should be on the account-holder, not the victims? Sheesh!So, where does that leave ordinary Tanzanians (and their Government, assuming that it wants the money back in Tanzania ? and in its own otherwise financially-leaky hands!).
Ever the optimist, I think all is not lost, however? Not yet, anyway!
Look at it this way? We do have a precedent on this; a living example, so to speak. A special audit by Messrs Ernst & Young discovered that more than $131m was improperly paid to 22 local firms using forged documents, withdrawing the moneys from the External Payment Arrears (EPA) account at the central Bank of Tanzania in 2005/06 alone!
In a rare moment of sagacity, President Jakaya Kiwete offered amnesty/immunity from punitive action to the looters who?d quietly return the criminal spoils.
In the event, Sh69.3bn ($63m then) of the loot had reportedly been restored under strict secrecy by December 2008!
If nothing else, this was ample proof of criminality. But, perhaps true to that dubious presidential pledge, no action has been taken against the ?self-incriminating? looters! (2007: Basel Institute on Governance/ICAR).
Recovering Sh303.7bn stashed in Switzerland? No problem; just? You see; it is all a matter of using presidential gumption?
And, if it worked reasonably well in the EPA/BoT case ? ethics and higher moral ground set aside ? there?s no earthly reason why it shouldn?t work in the over Sh300bn stashed in Switzerland, is there? I ask you... Cheers!
Not only are the accounts secret in the true tradition of Swiss Banking, with details of the Tanzanians involved virtually being Swiss State Secrets. Not even the Government of Tanzania as such can prise the details out of the bankers in Switzerland ? nor even the United Nations or any other so-called ?world body'...!
If my memory serves me a-right, although Switzerland does host a bazillion UN and other international agencies, the country is itself not a member of the UN, you see? And, this is despite the fact that the Swiss Confederation phased out (under intense global pressure) what had become infamous as ?secret bank accounts? in 1992 so that, ostensibly, details thereof ? in theory, at least ? could be accessed virtually by anyone (?).
Don?t let that fool you! Details of the accounts can be accessed only either via a clear, unequivocal directive of the account holder to that end ? or a Judicial Order of an accredited Judge through proper and full legal proceedings in that country.
The only reason(s) why a person ? any person, including Tanzanians ? would want to stash money in secret ?off-shore? bank accounts is/are to evade/avoid taxes, and/or to hide the source(s) of the ?loot.? This is especially if it is laced with elements of criminality. And, surely, the onus of disproving all that should be on the account-holder, not the victims? Sheesh!So, where does that leave ordinary Tanzanians (and their Government, assuming that it wants the money back in Tanzania ? and in its own otherwise financially-leaky hands!).
Ever the optimist, I think all is not lost, however? Not yet, anyway!
Look at it this way? We do have a precedent on this; a living example, so to speak. A special audit by Messrs Ernst & Young discovered that more than $131m was improperly paid to 22 local firms using forged documents, withdrawing the moneys from the External Payment Arrears (EPA) account at the central Bank of Tanzania in 2005/06 alone!
In a rare moment of sagacity, President Jakaya Kiwete offered amnesty/immunity from punitive action to the looters who?d quietly return the criminal spoils.
In the event, Sh69.3bn ($63m then) of the loot had reportedly been restored under strict secrecy by December 2008!
If nothing else, this was ample proof of criminality. But, perhaps true to that dubious presidential pledge, no action has been taken against the ?self-incriminating? looters! (2007: Basel Institute on Governance/ICAR).
Recovering Sh303.7bn stashed in Switzerland? No problem; just? You see; it is all a matter of using presidential gumption?
And, if it worked reasonably well in the EPA/BoT case ? ethics and higher moral ground set aside ? there?s no earthly reason why it shouldn?t work in the over Sh300bn stashed in Switzerland, is there? I ask you... Cheers!
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