SA bankers criticize proposal for commercial state bank
Representatives of SA's banking and financial services industry say they are finding it difficult to understand government's rationale behind establishing a commercial state bank. Delivering the Budget in Cape Town on Wednesday, Finance Minister Tito Mboweni said government would proceed to establish a new state bank whose "architecture will be that of a retail bank operating on commercial principles". "The state bank will be subject to the Banks Act, and […]
