DA welcomes referral of African Bank report to prosecutors

18 May 2016 - 11:18 By TMG Digital

The South African Reserve Bank (SARB) has referred a report into the collapse of African Bank to the National Director of Public Prosecutions (NDPP)‚ the Democratic Alliance (DA) said on Wednesday. The party’s David Maynier said it had received a letter from the bank’s general counsel‚ saying: “…the South African Reserve Bank has considered the report of Adv. John Myburgh SC and in light of the findings therein elected to forward it to the National Prosecuting Authority for its decision in the matter regarding any possible criminal prosecution”.This‚ Maynier said‚ came in reply to its missive to Reserve Bank governor Lesetja Kganyago “requesting an explanation as to why‚ given the finding that the business of the bank had been carried out recklessly and negligently‚ the final report had not referred to the NDPP”.While the DA welcomed the referral‚ Maynier said “why the Reserve Bank seemed to think referring the final report to the NDPP was optional will have to be probed” when it appears before the Standing Committee on Finance in Parliament. ..

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