The Reserve Bank (Sarb) has settled part of its dispute with the Ibex group of companies, formerly Steinhoff, releasing R9bn of funds to pay foreign creditors that the Bank blocked in July.
This comes after it reneged on its earlier approvals to allow the money to flow abroad. But the Bank still intends to go back to court to challenge its own decision to approve the transactions on the grounds that the approvals should never have been granted and the (unnamed) bank official who granted them was wrong to do so...
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