Finance Bank re-opening in Malawi hangs in balance due to past money laundering record


In May this year, Finance Bank Zambia owner Rajan Mahtani announced that he will re-open his branches in Malawi which were closed due to money laundering activities and other criminal activities.

Mahtani also announced that he met then newly president of the country Joyce Banda to discuss the opening of his bank. Normal and clean businessmen don’t necessarily need to see the Head of State to open a bank on any business in a country.

But Face of Malawi has received information that Malawi, in its renewed quest to combat corruption, may not allow a bank that was closed from criminal activities to re-open.

Face of Malawi understands that the Reserve Bank of Malawi (Central Bank) is relying on a report it conducted that revealed criminal activities that Finance Bank engaged in when they operated in that country.

Below is the report that led to the closure of the Finance Bank in Malawi:

(Visited 70 times, 1 visits today)



Please enter your comment!
Please enter your name here

Share post:

Featured Video

click to play


More like this

Hasheem Amulani Banda appointed as UDF Acting Vice President

United Democratic Front (UDF)'s leader, Lilian Patel, has made...

Watch|| Police Arrest Evangelist After Cooked Human Parts Were Found In His Room (Video)

The police have arrested an evangelist simply identified as...

Popular Ghanaian Man Of God Confesses Sleeping With Women In His Church; Says Its Normal (Video)

A controversial Ghanaian prophet and the spiritual leader of...