The KwaZulu-Natal economic development and tourism portfolio committee has come out strongly against the SA Reserve Bank-led Prudential Authority's (PA) application for the provisional liquidation of troubled Ithala SOC Limited.

News24

South Africa

News24 Business | Regulator applies to liquidate Ithala, 257 000 clients affected

The SA Reserve Bank's Prudential Authority has applied to the Pietermaritzburg High Court for the provisional liquidation of Ithala SOC Limited, the development finance agency wholly owned by KwaZulu-Natal province.

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24.com

Sekunjalo Investments

Panic erupts as Ithala Bank faces provisional liquidation

[SAnews.gov.za] National Treasury has assured the retail depositors of Ithala SOC Limited that their deposits will be protected by a government guarantee, subject to the conclusion of the necessary technical work.

allAfrica

Amadou Mahtar Ba

South Africa: Ithala Retail Depositors Assured of Protection After Liquidation

The Prudential Authority has filed papers in the Pietermaritzburg high court for the provisional liquidation of Ithala

Times Live

Johannesburg

City of Johannesburg Metropolitan Municipality

Gauteng

Prudential Authority applies to place Ithala under liquidation

Ithala Bank, where approximately 257 000 people, mainly from rural KwaZulu-Natal, save money, is likely to be liquidated after a years-long struggle.

Ithala Bank, waar sowat 257 000 mense veral van die platteland van KwaZulu-Natal geld spaar, gaan ná ’n jare lange stryd waarskynlik gelikwideer word.

Reserwebank se geduld met Ithala is op: Aansoek om likwidasie gebring

Netwerk24

Reserve Bank's patience with Ithala is over: Application for liquidation brought

The Inkatha Freedom Party's spokesperson Mkhuleko Hlengwa said the party opposed the liquidation of Ithala Bank, which was founded by Mangosuthu Buthelezi.

Briefly

IFP vehemently oppose closure of State-Owned Ithala Bank

The South African Reserve Bank’s Prudential Authority and National Treasury have requested KwaZulu-Natal's Ithala Bank to be liquidated.

Sunday World

'Ithala investors must make other plans due to liquidation case'

Regulator to consider fair treatment of clients amid firms' operational risks The post AMF pledges proactive prudential supervision appeared first on Investment Executive.

Investment Executive

AMF pledges proactive prudential supervision

Pretoria – The National Treasury has assured retail depositors of Ithala SOC Limited that their deposits will be protected by a government guarantee. The assurance follows the Prudential Authority’s application for provisional liquidation of Ithala SOC Limited.“We understand that depositors may be concerned about the safety of their funds,” the National Treasury said in a terse statement Thursday, (16 January 2025). “The National Treasury wishes…

The Bulrushes

National Treasury Assures Ithala Retail Depositors Their Deposits Will Be Protected - The Bulrushes

Ithala SOC Limited has launched a fierce attack on Johan Kruger, the repayment administrator (RA) appointed by the South African Reserve Bank (SARB), accusing him of arrogance and callousness. This follows the Prudential Authority’s application to the High Court in Pietermaritzburg for Ithala’s provisional liquidation. Although often referred to as a bank, Ithala was never granted a banking licence. Its origins lie with the Ithala Development Fi…

KZN legislature slams regulator's action against Ithala, seeks Parliament's intervention

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