×

We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Members of Parliament’s finance committee want the commission of inquiry due to be established into the collapse of VBS Mutual Bank to also investigate the role of the regulators. Reserve Bank deputy governor Kuben Naidoo told the committee that it was the full intention of governor Lesetja Kganyago to establish a commission of inquiry to investigate, among other things, the fraud that was committed by the bank. DA finance spokesman David Maynier and EFF chief whip Floyd Shivambu welcomed the proposed establishment of a commission of inquiry. But they suggested that it also probe the role of the Treasury and the Reserve Bank, which had failed to act expeditiously in addressing the problems at VBS Bank once they came to their attention. "The impression that we have is that National Treasury and the Reserve Bank did not act certainly decisively for a period of 13 months and that is a huge concern. If there is a commission of inquiry, which we have been advised there will be, the role ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.