ICAC Enquiry: AfrAsia Bank Responds In A Communiqué

AfrAsia Bank issued a communiqué last night, August 17, to express their confidence that none of their Senior Officers was involved in malicious acts. The issue began after it was reported that the ICAC was carrying out an investigation concerning allegations of commissions on bank loans given to businessmen.

AfrAsia Bank

The management of the bank added that they would collaborate fully with the ICAC for the purpose of this investigation. The communiqué also informed of a testimony that was given on July 7 “in relation to possible criminal offences to which it believes it had been subjected”.

Find below the communiqué:-

We refer to recent news reports relating to an enquiry by the Independent Commission Against Corruption (ICAC).

While the Bank has and will continue to fully collaborate with ICAC and assist it in its investigation, it cannot comment on any specific allegations and news reports at present.

The Bank can advise it has made a declaration to the Central CID on 7 July 2015 in relation to possible criminal offences to which it believes it had been subjected.

Following this declaration, statements have been recorded from various officers of the Bank and the enquiry is still in progress.

The Bank is confident that none of its senior officers has been involved in any wrongdoings.

AfrAsia Bank Limited operates within a rigorous corporate governance framework. Its foundation for effective corporate governance is embedded within its principles of integrity, transparency and competency, all of which permeate through the way AfrAsia Group conducts itself.

AfrAsia Bank Limited

17 August 2015

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