MaichBlack wrote:kimugaman wrote:They are blaming social media. How about owners of bank, taking deposits, then loaning it out to themselves, then cooking the books to hide those loans. If there was no social media, people in bars and markets and social gatherings still could have talked about it.
There was total rot in this bank! No need to blame the social media. Granted, some individuals inevitably dramatized some facts and misrepresented some but it is not like we are talking about a sound bank that followed strict corporate governance. Secret insider loans, misreporting etc. What did they expect???
There is nothing as bad as rumours accompanied by verifiable facts. The sickening verifiable facts are attributable to the banks management and directors!!!
True true.
Dr Pato has always said he wants to leave CBK as a world class central bank. If we read in between the lines, this is a journey he has embarked on. There's nothing world class with no strict standards and their enforcement. He has not yet started streamlining the system, he is just but cleaning it to give him a base to start. So all this ndrama is a cleaning exercise being carried out. Some banks have 'dirtified' their books so its dirt that we are seeing as for now na mambo bado.
Next stage will be setting minimum baseline operating standards the modus operandi is set to change. Supervision will be in another level after the cleanup.
Vetting of who runs the banks at both board level and senior management will be at another level.
Corporate governance will be like a daily hymn in the industry.
So fellow wazuans the revolution is real but at the very initial stages.