FIU and RBM to conduct onsite examination of NICO Life

The Financial Intelligence Unit (FIU) and Reserve bank of Malawi will conduct onsite examination of NICO Life Insurance Ltd from 28th October to 5th November 2013.

The exercise will be done at Blantyre, lilongwe and mzuzu branches of the insurance company.

The FIU and RBM's Bank Supervision Department and Pensions and Insurance Department will carry out this exercise under the agreement by the two institutions to have joint onsite examinations of financial institutions from time to time.

In August and September 2013, the two institutions conducted another onsite examination on some branches of National Bank of Malawi.

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