“Hopelessly insolvent” VBS bank to be liquidated

[BusinessTech]

“Hopelessly insolvent” VBS bank to be liquidated

The South African Reserve Bank (SARB) has applied for the curatorship of VBS Mutual Bank to be terminated and for the bank to be put it into final liquidation.

 

[ArmatageShanks]

So will those who had R3 in their bank account get it back?

 

[Mista_Mobsta]

Now people wonder why ANC and EFF want their hands on the SARB so badly...can you imagine what havoc they would create if they were to put cronies/cadres in charge of one of the pillars of the Twin Peaks Regulatory system?