The Reserve Bank and public protector face off again

businesslive.co.za

- businesslive.co.za | 4 months ago

The SA Reserve Bank appears to be in Public Protector Busiswe Mkhwebane’s cross hairs once again, over an investigation into the Bank’s role in the VBS saga.

In a press briefing on Thursday, Mkhwebane reportedly said she is “experiencing challenges” with the investigation because the Bank “seems to believe that we do not have jurisdiction over it”. The courts ordered that VBS — a mutual bank that mainly operated in Limpopo — be liquidated in November 2018, after an investigation ordered by the Bank revealed huge fraud.

The Bank, however, hit back on Friday saying that it “finds it surprising that the public protector finds it necessary to address these matters publicly while an investigation is ongoing”.

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