Lifting The Veil

Author lbostgadmin | Posted on August 20, 2004 | Legal

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?