Finance Minister Enock Godongwana has asked South Africa’s big banks to open accounts for social grant recipients who are currently banking with Ithala Bank so they could continue to get paid while the historic KwaZulu-Natal state owned institution tries to fend off a liquidation application by the Prudential Authority (PA). This is according to Godongwana’s… Continue reading Finance Minister asks Big Banks to Open Accounts for Ithala Clients to Facilitate Social Grants Payments amid Liquidation Battle with Prudential Authority
Tag: Ithala Bank
Ithala Slams Prudential Authority’s Court Application To Have It Provisionally Liquidated
Ithala SOC Limited (Ithala Bank), the historic financial institution founded by the KwaZulu homeland government to fund black entrepreneurs during the apartheid era, has slammed the Prudential Authority (PA) ‘s application to have it under provisional liquidation. The PA is a division of the South African Reserve Bank (SARB) that oversees the operations and compliance… Continue reading Ithala Slams Prudential Authority’s Court Application To Have It Provisionally Liquidated