Financial Digest

Proposed law for state-owned banks given green light

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

Finance Finance Headlines News

The National Council of Provinces select committee on finance will now send the Financial Matters Amendment Bill to the president

A proposed law allowing state-owned enterprises to establish banks passed the penultimate hurdle on Wednesday before it is sent to President Cyril Ramaphosa for signature and promulgation.

The bill, along with a number of other bills including the Copyright Amendment Bill, will now go before the final plenary session of the NCOP on Thursday for final adoption. The NCOP will then close down for business ahead of the May 8 election. The EFF supports the creation of state-owned banks with its chief whip Floyd Shivambu having submitted a private member’s bill to provide for this option. The finance committee of the National Assembly, however, opted for the Treasury’s bill, which has more conditions and checks and balances than Shivambu’s.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How SA's broken state-owned companies made the 'new dawn' a fake resurrectionSA has pinned its hopes on the election to give its ailing economy new direction and growth, but as the country braces for news from rating agency Moody's this week, indications are its faith may have been unfounded, says Sean Gossel. There was never a new dawn to begin with. What the ANC touched seems to have a smell afterwards No comment
Source: News24 - 🏆 4. / 80 Read more »