‘Is BASA colluding with SA banks,’ asks MKP in Parliament

The uMkhonto weSizwe Party (MK Party) has heard complaints from its constituents on banking issues and possible collusion between the Banking Association of South Africa (BASA) and banks, the party's Des van Rooyen said on Tuesday, saying they needed clarity.

“Our constituents have been very outspoken about collusion with the banks and BASA. What we want to know as the MK Party, is if there is any coalition between BASA and the banks," Van Rooyen said.

“Just recently, in the case with Sekunjalo, BASA provided affidavits in the equality case against them. Does this mean they (as BASA) are discussing clients with the banks?”

The Portfolio Committee on Trade, Industry and Competition, and the Standing Committee on Finance are holding a joint-meeting in which all major banks will appear before them on Tuesday.

He said it was stated people became BEE compliant due to family ties or political ties and asked if there was any truth to support this.

Van Rooyen further wanted to know why the regulatory bodies were ‘snubbing’ the parliamentary process as indicated by the treasury.

“It has been brought to our attention by our constituents that out of desperation the Ithala database has been handed over to FNB. As we speak now, Ithala clients are being harassed, urging them to join FNB. I am concerned because of the POPIA Act provisions. Are the prudential authorities aware of this particular practice?” he questioned.

“Who transferred the Ithala clients to FNB? What is clear is that this is more of a political process where people are desperate and expeditiously wanting to take over the clientele of Ithala. Collapsing Ithala.”

IOL