KZN government vows to protect Ithala Bank amid ongoing legal battles

KZN premier urges municipalities to bank with beleaguered Ithala

Thami Ntuli says deposits into Ithala should be made not out of obligation but out of conviction

KZN government vows to protect Ithala Bank amid ongoing legal battles

Restarting Ithala: inside the legal tug-of-war over SA’s ‘state bank’ – Moonstone Information Refinery

Ithala SOC Limited has cautioned that returning to full operation will be a slow and complex process, comparing the task with restarting a smelter in a steel plant. Ithala’s chief executive, Dr Thulani Vilakazi (pictured), said it will take months to “light the fire before you can produce one steel rod”, warning the institution “can’t be turned on and turned off”. The High Court in Pietermaritzburg granted Ithala partial relief on 9 May, lifting…

KZN premier Thami Ntuli calls for government, municipalities to bank with Ithala

As the battle to save Ithala Bank rages on in the country’s courts, the Premier of KwaZulu-Natal, Thamsanqa Ntuli, wants provincial government departments and municipalities to bank with the historic bank once it has been fully saved. Ntuli believes that this would help the bank to thrive and become more viable. High court ruling He sounded this call on Wednesday in Durban after the Pietermaritzburg High Court ruled that the bank can continue op…

KZN govt to challenge any attempt by SARB to take over Ithala Bank - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

KwaZulu-Natal (KZN) Premier Thamsanqa Ntuli says the provincial government will continue to legally challenge any attempts by the Reserve Bank’s prudential authority to take over operations of Ithala Bank. Ntuli says the provincial government welcomes the judgment by the High Court in Pietermaritzburg which barred the Repayment Administrator Johannes Kruger from taking over day-to day operations of Ithala. The Reserve Bank’s Repayment Administra…