Skip links

Press Release: Appointment of an Acting Director for the FIU

The Governing Board of the Republic of Palau Financial Institutions Commission (FIC) announces the appointment of an Acting Director for the Financial Intelligence Unit (“FIU”).

Due to unexpected health related issues affecting FIU Director Nelson Werner, the FIC Governing Board, which is mandated by law to conduct oversight of and to appoint the Director of the FIU, has deemed it necessary to make changes to the FIU’s operations.

In a Board Meeting held on Wednesday, April 22, 2020, the Governing Board signed into effect a Board Resolution appointing the FIU’s current Analyst, Mr. Hussein Derbai, to serve as “Acting Director” of the FIU until further notice. This appointment will be for an initial period of 90 days and can be renewed depending on the FIU’s circumstances.

As there are no anticipated interruptions to the FIU’s operations, all licensed financial institutions and those entities that are mandated by the Money Laundering and Proceeds of Crime Act to report to the FIU are to continue to follow existing reporting regulations.

The FIC Governing Board also wishes to advise all friends, acquaintances, counterparts, and colleagues of Director Werner that we are doing all that is necessary to ensure that he continue to receive the medical care he requires and that his immediate family is in direct communications with all key medical and administrative personnel at the Belau National Hospital. Furthermore, we wish to advise that all diplomatic matters regarding our Director are being handled accordingly and within the parameters of official protocol and requirements that apply to foreign nationals in the employ of our agency.

While we fully understand and share similar concerns, we also ask that we all respect and adhere to personal privacy with regards to Director Werner’s medical issues, allow for immediate family members to manage this matter without hindrance, and for the medical teams as well as the diplomatic corps to be able to continue providing their valuable services and assistance without undue hindrance and interruptions.

Chair and Governing Board,
The Financial Institutions Commission