Lawmakers will investigate the profitability of banks before switching focus to cement makers as the government seeks to rally companies behind its efforts to revamp the economy and spur growth. Parliament’s finance and economic development commission is set to start meetings with the central bank governor, the finance minister and industry representatives from April. It will aim to deliver its findings, which will include a probe of the state-owned pension fund manager, before the end of the year. Focus will be paid to lending margins relative to the central bank’s benchmark rate; fees and commissions; the banks’ contribution to job creation; their commitment to fair competition; as well as their social and corporate responsibility programmes.
SOURCE: BUSINESS DAY LIVE