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Anti-Money Laundering Pact to Boost Investment: Ram Nath Kovind

Anti-Money Laundering Pact to Boost Investment: Ram Nath Kovind

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  4 Sep 2018 10:21 AM GMT

NICOSIA: An anti-money laundering memorandum of understanding (MoU) signed between India and Cyprus will help boost investment cross-flows between the two countries, President Ram Nath Kovind said on Monday. “We welcome the signing of the MoU between Financial Intelligence Unit, India, and the Unit for Combating Money Laundering of Cyprus,” Kovind said while addressing the media after a bilateral meeting with Cyprus President Nicos Anastasiades. “This agreement would further strengthen the institutional framework to facilitate investment cross-flows,” he said. Cyprus is the eighth largest investor in India with a cumulative investment of around $9.2 billion. (IANS)

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