An economic review of the past week

JOHANNESBURG – The SA Reserve Bank (Sarb) is a step closer to finding out what went wrong at the embattled Venda-based mutual bank VBS, put under curatorship in March following a liquidity crisis.
This week the central bank announced it would establish a commission of inquiry into the bank to look at possible fraud and whether the regulator was asleep on the job in terms of its oversight.
Sarb deputy governor Kuben Naidoo, briefing MPs in Parliament, said it was the full intention of the Sarb governor Lesetja Kganyago to appoint a commission of inquiry.
“There are two sides to the …read more

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