KZN government commits to lifting Ithala Bank out of financial turmoil

PIETERMARITZBURG – KZN Economic Development, Tourism, and Environmental Affairs MEC, Musa Zondi says he’s committed to averting a closure of iThala bank.This comes after the Financial Sector Conduct Authority suspended the bank’s operating licence.READ: Investment scams | FSCA warns of social media scammersThe FSCA cited several reasons for the suspension, including Ithala’s “failure to meet financial soundness requirements.”