Court Orders RBM to Pay Finance Bank K300bn

Reserve Bank of Malawi pays for ‘sins’

By Mercy Matonga: The Supreme Court of Appeal has ordered the Reserve Bank of Malawi (RBM) to pay Finance Bank of Malawi (FBM) K300 billion in compensation. Assistant Registrar Ibrahim Hussein delivered the ruling Wednesday, when he awarded the authorised dealer bank compensation for loss of business and profits it would have earned. Read more click:- https://times.mw/etimes/

Court orders RBM to pay Finance Bank K300bn

Malawi Supreme Court of Appeal has ordered Reserve Bank of Malawi (RBM) to pay Finance Bank Malawi (FBM) K300 billion, a reduction from the K1.1 trillion the defunct bank demanded. According to a ruling by Supreme Court assistant registrar Ibrahim Hussein, K157.471 billion is for loss of business and profit, K138.124 billion for malfeasance in …

Taxpayers bear K300bn burden as Finance Bank beats Reserve Bank in court

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Supreme Court Orders RBM to Pay FBM K300 Billion

Malawi's Supreme Court has ordered the Reserve Bank to pay Finance Bank of Malawi K300 billion over the disruption of its operations in 2005.

Court cuts Finance Bank claim

This article was originally published on Malawi24">Malawi24, Malawi's #1 independent news platform. A legal battle that has stretched for more than two decades has ended with a massive financial blow to the Reserve Bank of Malawi (RBM), exposing taxpayers to a substantial financial liability. The Supreme Court of Appeal has ordered the central bank to pay Finance Bank of Malawi (FBM) K300 billion in compensation for the […] Read the full article…