The National Treasury has assured retail depositors of Ithala Bank Limited that their deposits will be protected by a government guarantee, subject to the conclusion of the necessary technical work. This follows the Prudential Authority's application for provisional liquidation of the Bank. Ithala Bank has meanwhile threatened to take legal action against the application for its liquidation, which would put 400 jobs and more than 250-thousand depositors into jeopardy. Sakina Kamwendo spoke to Chartered Accountant and Independent Analyst Khaya Sithole.

<p>The National Treasury has assured retail depositors of Ithala Bank Limited that their deposits will be protected by a government guarantee, subject to the conclusion of the necessary technical work. This follows the Prudential Authority's application for provisional liquidation of the Bank. Ithala Bank has meanwhile threatened to take legal action against the application for its liquidation, which would put 400 jobs and more than 250-thousand depositors into jeopardy. Sakina Kamwendo spoke to Chartered Accountant and Independent Analyst Khaya Sithole.</p>

SAfm Current Affairs is home to three informative one-hour-long news and actuality radio shows. Brought to you by SABC News.

<p>SAfm Current Affairs is home to three informative one-hour-long news and actuality radio shows. Brought to you by SABC News.</p>

SAfm Current Affairs

Khaya Sithole, Chartered Accountant and Independent Analyst, says the situation at iThala Bank underscores leadership failures and highlights the urgency of resolving banking compliance issues.