Banking the African way

In Africa, Banks on 14/07/2019 at 2:06 pm

Real Wild West cowboy banking (Beats HSBC: Doing God’s Work by being the drug cartels’ favourite bank and HSBC: great customer & shareholder service.pales

Burundi’s state prosecutor has accused one of the country’s main commercial banks of letting money flow to militia groups in eastern Democratic Republic of Congo, thereby threatening the security of the east African country.

Interbank Burundi denied the accusations in court in the capital, Bujumbura, on Wednesday.

Last week in Bujumbura, two officials of Trust Merchant Bank of the nearby city of Uvira in DR Congo were arrested with $1.5m (£1.2m) in cash from Interbank Burundi on their way to Uvira.

The prosecution said it was investigating reports that the cash was being channelled to finance militia groups in eastern DR Congo.

Interbank Burundi denied the allegations, saying it was playing a routine, intermediary role to facilitate money transfers between Trust Merchant Bank Kinshasa and its Uvira branch.

The court in Bujumbura is to give its verdict in 10 days.

BBC report

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