
All channels that existed before on dealing will a matter between Oakbay accounts and four major banks will be activated, Minister of Finance Pravin Gordhan told listeners of Power FM on Sunday evening.
Gordhan was responding to questions that were asked by caller during his live interview with Onkgopotse Tabane on Power Perspective. Caller wanted to know what Treasury was doing to try and solve the decision of the banks to close down Oakbay accounts.
In his responds, Minister said that Treasury will assist where it can, and it will go out of its way in doing that. An irritated Minister lambasted Oakbay employees who took the opportunity and said they were ganging-up against him.
“I am surprised that you are using a Talk Show to resolve the matter. There is a confidential and contractual relationship between banks and their clients, which follows national and international banking regulations,” he added.
When Gordhan was asked whether he did help the company or not seeing that the company was still in the same situation as before, an agitated minister told the power perspective host JJ Tabane that he can’t make assumptions going as far as accusing him of taking sides.
A clearly angry Gordhan told Tabane that he didn’t want to engage any further on the matter saying that proper meeting will be conducted to deal with the matter.
Four top SA banks Standard Bank, Absa, FNB and Nedbank “all gang up” against Oakbay Investments and closed accounts company earlier this year without giving them any reason.
Meanwhile, Parliament’s standing committee on finance, through its chairperson Yunus Carrim, had expressed its solidarity with employees of Oakbay and their dependants. However, Carrim said that they had to exercise caution regarding the dispute between the banks and Oakbay.
‘We are concerned about the plight of Oakbay employees and we express our solidarity with you and your dependents. We certainly do not want to see you adversely affected in any way,” Carrim said.
“It is perhaps best that our committee exercises caution on taking the matter forward,” he said.
Absa corporate and investment banking CEO Phakamani Hadebe also sympathised with Oakbay employees after a march on the banks in April.
“We have carefully considered it (a memorandum) and we sympathise with the position of Oakbay employees. We are required by law to keep client matters confidential and can only discuss related matters with them,” Hadebe said.
Comments from Minister Pravin Gordhan were not available by the time of publication.
Source: http://www.ann7.com