Industrial Development Bank: The takeover of IDB’s current account business leaves more questions than answers. On what basis was Equity selected? Was there a tendering process open to all banks and financial institutions? Given that the assets of a public (state-owned) bank are being transferred to a private Bank, is this not a form of privatisation – that must be approved by Parliament?
Consolidated Bank: Also, the previous owners of collapsed banks that were folded into Consolidated Bank are pushing the Ministry of Finance to turn over the Bank to them – claiming they are the true owners of the Bank.