Sinbad
Honorary Master
- Joined
- Jun 5, 2006
- Messages
- 89,066
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Umm. Banks basically shut down over a weekend. Regardless, they can handle a lower volume, or zero, transactions on any day.
During trading hours, banks have obligations to international partners/organisations - eg SWIFT, FX houses, etc. Imagine an overseas investor was unable to effect an FX transfer or share trade during business hours? The reputational damage to SA as a whole, the institution specifically, and the penalties would be immense.