Tag: banks

Minister to meet Banks over auctioning & attaching of RDP houses
Banks Breaking News South Africa

Minister to meet Banks over auctioning & attaching of RDP houses

The Department of Human Settlements says banks should not, under any circumstances, auction government subsidised RDP houses to settle any debt. “The Government builds and gives indigent South Africans homes. These homes do not belong to one person but to the whole family, by auctioning this house to settle short term debts the Banks are […]

Treasury raise concern about banks price fixing
Banks Business South Africa

Treasury raise concern about banks price fixing

National Treasury has expressed concern on the outcomes of the Competition Commission’s investigation into price fixing and market allocation by 17 banks, saying it views the matter in a serious light. Announcing the findings of the investigation, the Commission said 17 banks, including three South African banks that have an international footprint, were implicated. “As […]

Standard Bank faces prosecution over Rand-rigging
Banks Breaking News Business

Standard Bank faces prosecution over Rand-rigging

South Africa’s Top Bank, Standart Bank implicated in the currency(Rand) – rigging scandal, Competition Commission findings. South Africa’s Competition Commission has recommended at-leats 10% of annual revenue fines against top banks including Citigroup, Nomura and Standard Bank for rigging the currency. The competition watchdog said it had concluded an investigation into whether banks colluded by […]