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LMP demands ban for offshore companies dealing in residency bonds

LMP demands ban for offshore companies dealing in residency bonds

Budapest, March 21 (MTI) – The opposition LMP party has demanded a ban of offshore companies doing business in Hungarian residency bonds.

The party’s co-leader András Schiffer said Hungary’s political elite was implicated in related murky dealings and “robbing the country”.

He told a news conference on Monday that reports suggested Arpad Habony, an informal advisor to the prime minister, was in control of the companies that saw to the transactions. He added that LMP planned to submit to parliament a bill proposing to ban any state bodies, including local councils and the central bank, from doing business with offshore firms. Furthermore, LMP seeks to ban offshore companies from doing business in Hungary, he said.

LMP also wants to change the law concerning money laundering with a view to obliging parliament’s Economic Committee to oversee bond transactions and identify clients.

Photo: MTI

Source: http://mtva.hu/hu/hungary-matters

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