The Bank of Namibia has suspended the authorization of Trustco Bank Namibia to operate as a banking institution. Governor Johannes !Gawaxab says the decision to suspend the bank’s licence resulted from numerous non-compliances and serious shortcomings, among which several internal control weaknesses remain unresolved. This is despite several repeated interventions by the central bank over an extended period, directing Trustco Bank to rectify them. Here is Kazembire Zemburuka the Director of Strategic Communications and International Relations, at the Bank of Namibia.
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