Financial sector looking to ensure banks are able to deal with COVID-19
The financial sector is looking to ensure that the banking industry is able to handle any issues that might come up as a result of the coronavirus outbreak.
Joanne Joseph spoke to Banking Association of South Africa managing director Cas Coovadia to find out more.
We are talking to the competition authorities to give us some sort of sanction to actually discuss these issues and then we will bring the industry together at a higher level to see what decisions we can take at an industry level.Cas Coovadia, Managing director - Banking Association of South Africa
We are conscious of the fact that banks pay a critical role, we are conscious of the fact that bank customers will be going through significant strain in the next few months and so within that context we will come together to see what will banks play in helping people alleviate some of the pressure they are under without putting the system and banking industry at risk.Cas Coovadia, Managing director - Banking Association of South Africa
We have already been in touch with the competition authorities, they are looking at this.Cas Coovadia, Managing director - Banking Association of South Africa
He says the possibility that customers will have trouble paying back their debt if they are not paid salaries during this time will be considered.
There are also discussions around other operational issues.
In the event of branch closure, if we get to that stage, how do we do that, share information of that?Cas Coovadia, Managing director - Banking Association of South Africa
Coovadia says there is no need for panic at this time.
Click on the link below to hear more...
There were 12,349 new infections. The total number of deaths is 3,860.Read More
Provincial health department head Dr Thobile Mbengashe is adamant that these scooters were never meant to be ambulances.Read More
Professor Salim Abdool Karim says its likely virus might be airborne, but there isn't enough information on that matter.Read More
SA Funeral Practitioners Association's Vuyo Mabindisa says there has been an increase of 30% in funerals due to pandemic.Read More
Gauteng Health MEC reflects on the province's preparedness to fight the spread of COVID-19 while being the epicentre.Read More
Makgoba is one of three non-Americans to serve on this 12 person panel.Read More
The lockdown did it – not the pandemic – so we can’t pay, argues Santam. Bruce Whitfield interviews Tracey Davies of Just Share.Read More
The Money Show’s Bruce Whitfield interviews Grant Pattison, CEO at Edcon, about the deal with fashion retailer Retailability.Read More
People can make donations through Webtickets and send those voucher codes to AurelieK@ewn.co.za.Read More
Gauteng General Practioners Collaboration member Dr Dan Israel gives basic steps on how people can deal with the virus.Read More