Reserve Bank deputy governor on closure of Gupta bank accounts
22 March 2017 - 11:51
The law did not allow banks to close accounts simply on the basis of suspicions, Reserve Bank deputy governor Kuben Naidoo stressed in Parliament on Wednesday. He was replying to a question by DA finance spokesman David Maynier about why it had taken Absa so long to close the accounts of the Gupta-owned companies. Maynier noted that Absa had decided to terminate the banker-client relationship with the Gupta-owned Oakbay companies and related parties on November 18 2014 but only formally closed the accounts on February 16 2016.
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