Banking Association reacts to the 23 demands the EFF is making

The Money Show’s Bruce Whitfield interviewed Cas Coovadia, Managing Director of The Banking Association.

Coovadia spoke about the EFF’s 23 demands from financial institutions.

Scroll down for quotes from the audio below.

The Reserve Bank is doing a very good job.

Cas Coovadia, Managing Director of The Banking Association

The issue is not just a banking issue. The issue here is our socio-economic problems and the large amount of people in poverty.

Cas Coovadia, Managing Director of The Banking Association

Banks will fund businesses if the regulatory issues are taken care of.

Cas Coovadia, Managing Director of The Banking Association

Banks are businesses; they need to make a profit.

Cas Coovadia, Managing Director of The Banking Association

These demands will destroy our economy and competitiveness.

Cas Coovadia, Managing Director of The Banking Association

Our banking sector is internationally recognised as working very well.

Cas Coovadia, Managing Director of The Banking Association

It’s a fallacy that the banking sector is not contributing.

Cas Coovadia, Managing Director of The Banking Association

76% of South Africans are banked. For a developing country this is very good.

Cas Coovadia, Managing Director of The Banking Association

A State Bank won’t be able to do anything different without ongoing injection from the fiscus.

Cas Coovadia, Managing Director of The Banking Association

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