United States

Absa says public protector's recommended amendments pose risk to financial system

Wednesday, 21 Jun 2017 01:57am EDT 

June 21 (Reuters) - Absa Bank Ltd ::Advised that "public protector act does not empower public protector to direct that constitutional amendments be made"."Recommended amendments pose a very serious risk to financial system and they cannot be allowed to stand".Public protector's remedial actions include directive to parliament to amend constitution in order to change mandate of S.A. Reserve bank.