Gupta-targeted Habib Overseas Bank placed under curatorship
Finance minister Godongwana acts as a result of governance, compliance and operational failures
27 March 2023 - 11:37
UPDATED 27 March 2023 - 14:15
Habib Overseas Bank, the local unit of a Pakistan-based lender that became a buyout target by associates of the Guptas, has been placed under curatorship due to governance, compliance and operational failures.
Finance minister Enoch Godongwana placed the lender, which received an SA banking licence in 1990, under curatorship on March 26 based on the recommendation of the Prudential Authority (PA), the financial regulator that falls under the authority of the Reserve Bank...
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