2 thoughts on “To What extent are Malawian Banks enablers of Corruption and Fraud in Malawi? – a Survey”
Indeed there may be the need for better regulations but these banks which are people by the way – know what’s wrong and what’s right – in this case they choose to be accomplices. They are just as guilty as the rest of DPP Thieves. They too must be punished as an example. Bad things take hold when knowledgeable people do nothing – infact to do nothing is to actually do the negative
Banks will transact on clients full mandates.
Where a mandate say, for example, if signatory A & B sign together banks will follow that instruction. Further, banks have gone an extra mile of calling the signatories to ascertain to pay to the beneficiary if the amount on the instrument is higher than a certain threshold just safeguard clients funds. This is not a legal requirement in as far as banking is concerned.
You can’t blame banks for a few greedy people that want to please their masters at the expense of the citizenry.
Indeed there may be the need for better regulations but these banks which are people by the way – know what’s wrong and what’s right – in this case they choose to be accomplices. They are just as guilty as the rest of DPP Thieves. They too must be punished as an example. Bad things take hold when knowledgeable people do nothing – infact to do nothing is to actually do the negative
LikeLike
Banks will transact on clients full mandates.
Where a mandate say, for example, if signatory A & B sign together banks will follow that instruction. Further, banks have gone an extra mile of calling the signatories to ascertain to pay to the beneficiary if the amount on the instrument is higher than a certain threshold just safeguard clients funds. This is not a legal requirement in as far as banking is concerned.
You can’t blame banks for a few greedy people that want to please their masters at the expense of the citizenry.
LikeLike