South Africa: Country's Banking Rules Stack Odds Against the Poor, Pityana Tells Summit

Johannesburg — THE banking regulations in SA are too rigid and favour monopolies at the expense of the overburdened poor, University of SA (Unisa) vice-chancellor Barney Pityana said yesterday.

Pityana said informal and co-operative banks were being kept on the fringes of the banking industry while the big banks exploited the poor through high bank charges.

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