prudential authoritylatest news & developments
Challenged: IFP leader Velenkosini Hlabisa

IFP will take to the streets to defend Ithala, says Hlabisa

The SOC will be at the high court on Thursday to oppose an application for its liquidation

  • Stella Mapenzauswa
4 min read
Ithala SOC has R300 million ring-fenced in the provincial revenue fund that can be used by the bank to secure deposits — as required by the South African Reserve Bank’s Prudential Authority — the KwaZulu-Natal treasury has said in court papers

Ithala has R300 million ring-fenced to secure deposits, says KZN treasury

The bank does not have a solvency and liquidation problem, according to the department head

  • Des Erasmus
6 min read
Ithala’s provisional liquidation may result in the closure of 257 000 depositors’ accounts while legal proceedings are under way. (Photo: Ithala)

Ithala liquidation: Government guarantees depositors’ funds

The bank said the closure threatens 400 jobs

  • Des Erasmus
3 min read
Ithala’s provisional liquidation may result in the closure of 257 000 depositors’ accounts while legal proceedings are under way. (Photo: Ithala)

Ithala faces liquidation amid insolvency concerns

Ithala’s provisional liquidation may result in the closure of 257 000 depositors’ accounts while legal proceedings are under way

  • Aarti Bhana
3 min read
Ithala’s provisional liquidation may result in the closure of 257 000 depositors’ accounts while legal proceedings are under way. (Photo: Ithala)

Ithala Bank wins court battle – and control of its finances and operations

The judge says the bank is not a Ponzi scheme and cannot be stripped of it non-banking powers

  • Eyaaz
4 min read
Ithala’s provisional liquidation may result in the closure of 257 000 depositors’ accounts while legal proceedings are under way. (Photo: Ithala)

Ithala’s chief executive wants policy intervention for the ‘financially sound’ institution

KwaZulu-Natal economic development MEC Musa Zondi said the ‘crisis’ at the finance institution, which had its licence suspended last week, was being addressed with urgency

  • Des Erasmus
6 min read