Chairperson, Basel II is set to bring greater sound and stable banking to the South African banking arena. We support the Bill's deliberation on the registrar functions, duties and parameters that certainly cater for clarity in this regard and steer away from any autonomy.
Banking fraud is indeed undoubtedly a great concern and we hope that the new system will make it impossible for crimes of this nature to be committed.
While extended banking hours makes banking more accessible, the MF calls for the banks to explore methods of making finance for small and medium entrepreneurs possible with minimal risk and charges.
Technology has facilitated banking via telephone and internet, meaning that we do not have to leave our homes to manage our funds. However, exorbitant bank charges eat at our funds and the MF calls for a revision of bank charges to reduce them to a minimum.
We wish all banks well in the implementation of Basel 11, but we would like to see an oversight of the efficacy of this implementation to secure intent.
The MF will support the Bill.