Finance minister Alexander has revealed that the Patriotic Front government took a position of morality when it acted to hand back Finance Bank to its rightful owners. Speaking during a private conversation that was published by the Post newspapers yesterday, Mr. Chikwanda said that the government had to reverse the immorality that led to the malicious sale of Finance Bank to FNB of South Africa by former president Rupiah Banda. Chikwanda revealed that the decision to grab and sale Finance Bank was laced with malice and immorality because even when the bank was valued at USD 100 million, it was shocking that Rupiah Banda opted to sale it at a paltry amount of K5million.
With regards to compliance of Banking and financial Services act .Please see government gazette notice number 144 of 2014 attached here to. Government Gazette 28th February 2014-1