Politically Exposed Person (PEP) Weekly Digest – Volume 158

158th PEP Weekly Digest:

Introducing the 158th edition of The PEP Weekly Digest, where we present to you the most recent updates and news on the global political stage.

Recent and upcoming elections influence the worldwide political landscape in eight nations, slated between Jun 07, 2026, and Aug 13, 2026. These elections hold significant importance, as they will determine the direction and governance of each respective country’s future.

Rwanda Appoints Damien Murwanashyaka as New Infrastructure Minister

One noteworthy event has occurred in Rwanda, President Paul Kagame appointed Damien Murwanashyaka as Rwanda’s new Minister of Infrastructure on June 11, bringing to the role an engineer and construction industry professional with more than 15 years of experience in project management, cost management and infrastructure development.

Murwanashyaka replaced Jimmy Gasore, who had served in the position since September 2023. Murwanashyaka is a civil engineer who has worked at major real estate and construction companies.

A professional civil engineer and Associate Member of the Chartered Institute of Arbitrators, Murwanashyaka has built his career across both the public and private sectors, holding senior leadership positions in some of the country’s leading construction and engineering firms.

Former Army Officer Dan Jarvis Appointed UK Defence Secretary

Shifting our focus to the United Kingdom, Dan Jarvis has been appointed as the UK Defence Minister following the resignation of his predecessor, John Healey, over budgetary disagreements regarding military investment, Downing Street announced.

Jarvis, a former army officer, previously served as the Secretary of State for Security within the Home Office in Prime Minister Keir Starmer’s Labour government.

John Healey, who had been serving as the Secretary of State for Defence since 5 July 2024, resigned over disagreements regarding the Government’s defence spending plans.

Hassan Zareer Appointed Maldives Finance Minister Following Moosa Zameer’s Resignation

In the Maldives, Hassan Zareer, the Commissioner General of Taxation, has been appointed as the Minister of Finance following Moosa Zameer’s resignation.

Before his appointment as Tax Commissioner in May 2024, Zareer served as the Chairperson of the Bank of Maldives (BML).

He also served as the Director of Finance and Group Chief Compliance Officer at Villa Shipping and Trading Company Pvt Ltd.

Zareer, who previously held the position of Deputy Commissioner General of Taxation, has held various positions related to taxation and auditing since 2000.

He holds a Bachelor of Accounting and a Master of Science in Finance from the International Islamic University Malaysia (IIUM).

Furthermore, he is a Fellow Chartered Management Accountant (FCMA, CGMA) from the UK and a Certified Practising Accountant (CPA) from Australia.

RBI Fines Repco Home Finance, IIFL Samasta and True Credits for Regulatory Violations

In the realm of regulatory affairs, the Reserve Bank of India (RBI) imposed monetary penalties on Repco Home Finance Ltd, IIFL Samasta Finance Ltd and True Credits Pvt. Ltd for separate instances of non-compliance with regulatory directions. Finance: The highest penalty, amounting to Rs. 3.90 lakh, was imposed on IIFL Samasta Finance Ltd for violations of RBI directions on Know Your Customer (KYC) norms and fraud risk management for NBFCs.

The RBI found that the company had failed to put in place a robust system for identifying and reporting suspicious transactions. It had also disclosed incorrect details of frauds reported in its financial statements for FY 2024-25.

Former South Korean President Yoon Suk Yeol Jailed for 30 Years Over North Korea Drone Incursion Case

Shifting our attention South Korea: A South Korean court sentenced former President Yoon Suk Yeol to 30 years in prison for charges ​linked to his ordering an incursion of military drones over North Korea to ​help create a pretext for his failed December 2024 ⁠martial law declaration.

The Seoul Central District Court found Yoon guilty of aiding ​the enemy and abuse of power, saying he had conspired in the ​October 2024 drone incursion over Pyongyang from the outset, according to a court statement.

The ruling adds to a series of judgments against the ousted conservative leader, once South ​Korea’s top prosecutor, whose martial law order plunged Asia’s fourth-largest economy ​into its deepest political turmoil in decades.

Yoon had denied any wrongdoing over the drone incursion.

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