Minister of Finance Enoch Godongwana has placed Habib Overseas Bank under curatorship with immediate effect to deal with 'governance, compliance and operational failures' and protect the bank's depositors. | News24_Business
The minister of finance has placed Habib Overseas Bank under curatorship.The SA Reserve Bank found that the bank For more financial news, go to the Minister of Finance Enoch Godongwana has placed Habib Overseas Bank under curatorship with immediate effect to deal with"governance, compliance and operational failures" and protect the bank's depositors.
It added that"various investigations and reviews" found that Habib Overseas Bank was flouting financial sector regulations, including SA's strict exchange control rules. While the Competition Commission had given the merger between Vardospan and Habib the green light, the deal effectively stalled after the court threw out Vardospan's urgent bid.
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