How State averted fresh wave of bank collapses
Tuesday January 26 2021
By CONSTANT MUNDA
Summary
Most of the historical bank failures have been due to a mix of fraud, political interference, excessive risk-taking and inadequate capital.
Yatani says continuous surveillance of financial institutions had helped in the early detection of shady financial transactions and malpractices and arrest of additional failures.
The government battled major bank scandals behind the scenes last year, staving off a new wave of collapses, Treasury Cabinet Secretary Ukur Yatani has revealed.
Mr Yatani said that continuous surveillance of financial institutions had helped in the early detection of shady financial transactions and malpractices and arrest of additional failures that would have eroded investor confidence and hurt depositors.