By Edward Acquah
Accra, Dec. 6, GNA – Stakeholders in the non-profit and financial intelligence and compliance sectors have urged a clear roadmap on the passage of the draft Non-profit Organization (NPO) Bill to aid planning and compliance.
They welcomed efforts towards regulating the activities of NPOs but proposed the early passage of the law to enhance transparency in the sector.
This, they said, would also help the country to fully comply with international requirements on combating money laundering and terrorism financing.
They made the call at a Policy dialogue on “Safeguarding Civic Space Through an Enabling NPO Legislation in Ghana” organised by the Institute for Democratic Governance (IDEG) in Accra.
Non-profit Organizations comprise non-governmental organisations, foundations, community-based organisations, and faith-based organisations that undertake charity-related activities among other socials services.
The NPO Bill is expected to provide legal framework to back the operations of organisations that fall under the NPO category.
The Financial Action Task Force (FATF), an independent inter-governmental body that works to protect the global financial system against money laundering and terrorists financing, has recommended to countries to take urgent action to address the use of NPOs by terrorist financiers and money launderers.
The FATF’s Recommendation 8 requires countries to undertake domestic review of their entire NPO sector or have the capacity to obtain timely information on its activities, size and other relevant features, and review the adequacy of laws and regulations that relate to the portion of the NPO sector that can be abused.
Mr Dela Ashiabor, Head, NPO Secretariat, said the NPO Bill was intended to create an enabling environment for non-profits organisations to effectively perform their duties without “improper infiltration.”
He said contrary to fears by some stakeholders that the law could stifle their operations, measures had been outlined in the law to protect the NPOs and ensure some standardisation in the operations of such organisations.
“The Bill does not amount to over-regulation, but it is to ensure that we have a law that will enable you (NPOs) to work better” Mr Ashiabor said.
Mr Ashiabor said the draft NPO Bill had been sent to the Attorney General for review after which it would be presented to Cabinet for consideration.
“Personally, I hope that the Bill will be passed by the first quarter of 2024,” he said.
Ms Shireen Ofosu, Manager, NPO Compliance, Financial Intelligence Centre, Financial Intelligence Centre, said Ghana was currently partially compliant to the FATF’s Recommendation 8.
She said the passage of the NPO Bill was a key requirement for the country to become fully compliant to the FATF’S recommendations.
“We are not just sanitising the financial sector. It will also help ensure accountability in the NPO sector,” she said.
Mr Kwesi Jonah, Senior Research Fellow, IDEG, urged the NPO Secretariat to constantly engage the stakeholders to enable them to appreciate the importance of the Bill to their operations.
“One of the major lessons we’ve learnt from the NPO Policy is that the NPOs themselves should lead the process,” he said.
GNA