TRUST Bank and Royal Bank’s arguments for the return of their assets transferred to the Zimbabwe Allied Banking Group (ZABG) has foundation and I urge them to keep the fight on.
The Reserve Bank of Zimbabwe (RBZ) acted vind
ictively in their case.
A proper judicial inquiry of the happenings in the financial sector should be set up. There is more than we are told of what really happened especially the RBZ’s heavy-handedness in dealing with the issue raised. There are more questions than answers in this case.
Royal and Trust have the right to claim their assets, illegally given to ZABG, on law and natural justice.
Justice Wilson Sandura’s Supreme Court ruling should be upheld, not the so-called independent arbitration by retired Justice George Smith Commission. The findings are just shallow and I was shocked to hear such a verdict from the esteemed Justice Smith. It had no bearing on points of law.
For ZABG to hold on to assets of the former is just but wrong. ZABG is a baby of the RBZ. Let it get its assets from the RBZ.