Ntuli says SARB out to sabotage Ithala Bank
KwaZulu-Natal Premier Thami Ntuli believes the Reserve Bank's Prudential Authority wants to destroy Ithala.
It's after the authority and repayment administrator launched an appeal against the High Court ruling allowing Ithala to resume business operations.
The entity's been blocked from running for several months, leaving depositors, who are mostly in rural KZN, unable to access their money.
The administrator found that it was legally and technically insolvent.
In a media briefing on Wednesday, Ntuli said the provincial government will continue to defend the state entity.
" I also engaged even the President of the Republic about this subject and the Minister of Finance nationally, with the hope that such interventions were going to yield positive results.
"Even if it calls for us to go to the Constitutional Court, we'll go to the Constitutional Court so that we save every cent."
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