TIM COHEN: Zuma's hidden hand explains why Zwane's under the bus
EVEN by the standards of SA’s modern day weirdness, the past week has been a humdinger. My tweet of the week was by Karin Morrow who pleaded, "Can we please get through another day without looking like a fictitious country in a Sasha Baron Cohen movie"?Mineral Resources Minister Mosebenzi Zwane issued a statement, purporting to be a Cabinet resolution, calling for a judicial inquiry into SA’s banking system, following the decision by SA’s banks to withdraw banking facilities from the Gupta family.The inquiry would look into the mandate of the banking ombudsman. It would review the Financial Intelligence Centre Act and the Prevention of Combating of Corrupt Activities Act, and investigate whether the banks, financial institutions and the Reserve Bank complied fully with these pieces of legislation.The responsibility for issuing banking licences would be transferred from the Bank to the finance ministry, and banking compliance to the security cluster.The statement includes little gems...
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