Maravi

(LUSAKATIMES) Don’t panic, minister urges Finance Bank depositors

COMMENT - They are keeping The Post offline for over a week now, just to cover this thing up. It isn't 'irresponsible reporting in The Post' that is causing a panic among investors, but the fact that this government in a completely intransparant manner selectively took over a major privately owned bank. It also shows that this government will not only take over a private institution, but also shuts down the one independent national newspaper while it does so.

Don’t panic, minister urges Finance Bank depositors
Wednesday, December 15, 2010, 18:51

Finance and National Planning Minister Situmbeko Musokotwane has urged Finance Bank depositors not to panic and withdraw money from the institution because the bank is secure. Dr. Musokotwane also says government has enough liquidity assets to meet the requirements of the depositors. Dr. Musokotwane says irresponsible reporting by some sections of the media is causing unnecessary panic among the depositors.

Speaking at a media briefing in Lusaka today, Dr. Musokotwane further said the figure quoted in the POST Newspaper of 15 December is heavily exaggerated.

Dr. Musokotwane says he has personally verified with Finance Bank management and the Bank of ZAMBIA who have assured him that the figures by the newspaper are inflated.

And Dr. Musokotwane says there is nothing sinister about government’s decision to take over Finance Bank Zambia Limited.

He says it is wrong to insinuate that there are political motives behind the take over of the bank by the central bank last Friday.

Labels: CORRUPTION, FINANCE BANK, SITUMBEKO MUSOKOTWANE, THE POST

posted by MrK @ 8:58 PM