New Casino Law Could Lead to Money Laundering

North Cyprus News - Roulette Wheel - CasinoA memorandum for the draft law on gambling, which includes the authorising the council of ministers to grant licences for as long as 30 years, was approved by the assembly.

The National Unity Party (UBP), the People’s Party (HP) and the Democratic Party (DP) voted in favour.

Minister of Finance Amcaoglu said that three investors were waiting to make an investment and added: “The country has not the luxury to ignore these investments. This arrangement is for them. It is a demand of enterprise

Prime Minister Ersin Tatar, said that big investors in the corridors of the ministries and the assembly were asking when they would be able to invest. Claiming that investors had become beggars, Tatar argued that they should not put obstacles in the way of investments.

However, Tufan Erhurman, chairman of the Republican Turkish Party (CTP) said that such an arrangement would open the door for granting licenses to casinos without a limit.

Cemal Ozyigit, chairman of the Social Democracy Party (TDP), noted that investments in North Cyprus had been identified with casinos.

Erhan Arikli, chairman of the (YDP), warned that the draft law would result in money laundering.

Halkin Sesi

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