Ministry of Lands says it is developing a bill which when enacted, will provide a necessary operating environment for the real estate sector.
Principal Secretary responsible for Technical Services, Kwame Ngwira, made the remarks in Lilongwe during a Financial Intelligence Authority sensitisation workshop on money laundering and terrorist financing.
Ngwira said the workshop has come due to a tendency of unregistered real estate agencies operating in the country which hurts the country’s economic development.
He added that government will continue to provide a policy and legal framework that will guarantee the growth of the real estate sector while eliminating elements that would promote financial crimes.
Compliance and Prevention Manager for Financial Intelligence Authority (FIA) Maureen Mwalabu said the workshop comes at a time the sector is characterized by the proliferation of unregistered real estate agents