Prudential Authority (PA)
SIU Authorised to Probe Ithala Bank and Associated State Owned Companies in KwaZulu-Natal
The Special Investigating Unit (SIU) has been quietly authorised to probe allegations of wrongdoing at…
Devastation as Hundreds of Ithala Bank Staff Go Unpaid in January
Hundreds of Ithala Bank employees in KwaZulu-Natal face financial hardship and the risk of defaulting…
Finance Minister asks Big Banks to Open Accounts for Ithala Clients to Facilitate Social Grants Payments amid Liquidation Battle with Prudential Authority
Finance Minister Enock Godongwana has asked South Africa’s big banks to open accounts for social…
Ithala Slams Prudential Authority’s Court Application To Have It Provisionally Liquidated
Ithala SOC Limited (Ithala Bank), the historic financial institution founded by the KwaZulu homeland government…
Capitec Bank Fined R56 Million For Failing To Comply With FICA Regulations
The Prudential Authority (PA), an entity of the South African Reserve Bank tasked with monitoring banks, has fined Capitec Bank R56 million for failing to comply with some provisions of the Financial Intelligence Centre Act (FICA), mainly enacted to prevent money laundering. The PA accused the bank of failing to comply with certain provisions of the FIC Act 38 of 2001. The fine was announced on Friday last week through a press statement. “The sanctions consist of seven cautions, one…