MK Party defends Ithala Bank

Rapula Moatshe

The Umkhonto Wesizwe Party (MKP) has thrown down the gauntlet to Finance Minister Enoch Gondongwana, urging him to step in and prevent the potential liquidation of Ithala Bank. The political party also called for Ithala Bank to be left alone amidst its ongoing legal dispute with the South African Reserve Bank's Prudential Authority. The demands were made during the party's protest march outside the central bank's office in Pretoria on Monday. The Prudential Authority has been seeking to provisionally liquidate Ithala Bank, citing concerns over its financial stability and compliance with banking regulations. Ithala Bank, on the other hand, has maintained that it is financially stable and has been unfairly targeted by the Prudential Authority, which has petitioned the Pietermaritzburg High Court for the bank's provisional liquidation. MKP caucus chief…

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Daily News (Digital) - 1 Issue, 2025-03-12

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