Standard Bank asks: where’s the evidence of forex rigging?
Africa’s biggest lender says its own investigation shows it did nothing wrong and wants the Competition Commission to hand over evidence
13 March 2023 - 05:00
More than six years after the Competition Commission accused 18 banks of colluding to fix the rand exchange rate, Standard Bank is still trying to get its hands on the commission’s evidence for the case, in which it says it did nothing wrong.
"We have not acted as alleged, have done nothing unlawful and will continue to defend or pursue legal proceedings in pursuit of challenging the Competition Commissions allegations," the bank told Business Day in response to questions. "Standard Bank maintains that the allegations made are without merit and it will continue to defend its position."..
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