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Lifting The Veil

The Central Bank sent out a detailed statement justifying its reasons for winding up the failed Pramuka Savings & Development Bank. The Central Bank sent out a detailed statement justifying its reasons for winding up the failed Pramuka Savings & Development Bank.

The bank suspended Pramuka’s licence two years ago, for alleged frauds and mounting bad debts.

We produce the Central Bank’s detailed statement for the benefit of our readers:

Why Central Bank decided to Liquidate Pramuka Bank?