BASA says by making provision for the arbitrarily expunging of debt, the Act effectively prevents banks from extending responsible credit, particularly to low-income households.BASA says by making provision for the arbitrarily expunging of debt, the Act effectively prevents banks from extending responsible credit, particularly to low-income households
The Banking Association of South Africa has strongly criticised President Cyril Ramaphosa’s signing into law of theon Friday, saying it will restrict the ability of banks to lend money to poor people. The Banking Association of South Africa, BASA, has strongly criticised President Cyril Ramaphosa’s signing into law of the National Credit Amendment Act – saying it will restrict the ability of banks to lend to poor people.