Court orders RBM to pay Finance Bank K300bn
The Malawi Supreme Court of Appeal has instructed the Reserve Bank of Malawi to pay Finance Bank Malawi K300 billion. This amount is a decrease from the K1.1 trillion originally requested by the defunct bank. According to assistant registrar Ibrahim Hussein, K157.471 billion of the payment covers lost profit and business. The remaining K138.124 billion is designated for malfeasance.
Malawi Supreme Court of Appeal has ordered Reserve Bank of Malawi (RBM) to pay Finance Bank Malawi (FBM) K300 billion, a reduction from the K1.1 trillion the defunct bank demanded. According to a ruling by Supreme Court assistant registrar Ibrahim Hussein, K157.471 billion is for loss of business and profit, K138.124 billion for malfeasance in … The post Court orders RBM to pay Finance Bank K300bn appeared first on Nation Online .