PA and Sarb apply for the final liquidation of Habib Overseas Bank
The curator finds there are no reasonable prospects that the bank can be rehabilitated as a going concern.
The FSCA and PA urge financial institutions to prepare for the standard’s implementation despite the provision for a transitional period.
Read moreThe curator finds there are no reasonable prospects that the bank can be rehabilitated as a going concern.
Habib Overseas Bank has failed to comply with financial sector regulations, including strict exchange control rules, it says.