Oakbay backs judicial inquiry into banks

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Nazeem Howa, CEO of Oakbay Investments. (Picture supplied).
Nazeem Howa, CEO of Oakbay Investments. (Picture supplied).

Johannesburg – A judicial commission of inquiry into banks is the best way to shed light on the reasoning behind their decision to close off accounts with Oakbay Investments, said Chief Executive, Nazeem Howa.

In a teleconference with the press, Howa expressed disappointment in the four major banks' decision to close accounts with the business. He was also sharing news on the group’s maiden financial results for the year ended 29 February 2016.

“We are still in the dark as to why they closed accounts. A judicial inquiry will ensure that the truth comes out,” said Howa. “We intend to reach out in the coming weeks, again, to the four banks, and implore them to reopen our accounts,” the group said in a statement.

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