Depositors’ Union to the Banking Supervision Committee: Do Your Homework!

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22 - 03 - 2021

The Depositors’ Union launched a campaign entitled “The campaign against the Banking Control Commission”.

to shed light on the work of this committee. A committee entrusted by law No 67/28 with the authority to monitor and verify the proper application of the banking system as specified in the Currency and Credit law. This committee may periodically control all banks and set a protocol for any bank to improve its operations and control its expenses.

The campaign aims to make known to depositors this supervisory body so they can file complaints against violations by the banks. Depositors should know that within this commission there is a Consumer Protection Unit and we aim to place every member of this commission before their responsibilities in the manner by which they dealt with the banking crisis and brutal banking violations that encroached on depositors’ rights. To what extent did this commission carry out its duties in the period prior to the crisis to ensure good management of the banking sector and protection of the depositor savings. We intend to prosecute and hold accountable everyone and anyone who failed in their duty and as such contributed to the decline of the financial sector and deprived depositors of their life savings.

The Depositors’ Union has rejected the transgressions that the banks have persisted in committing over the past eighteen months and has sent a complaint to the Banking Control Commission asking it to clarify its stance concerning the banks’ performance and the steps taken by it to control violations. This is a prelude to the Union taking all legal measures to prosecute any negligence, Attached are two text messages.

To view the Message of the letter sent by the Depositors’ Union to the BCCL. Click Here


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