Standard Bank denies any involvement in rand-fixing: ‘We’ve found no evidence’

Bongani Bingwa speaks to Sim Tshabalala, CEO of Standard Bank Group.

(Listen to the interview in the audio below)

UK-based Standard Chartered Bank has admitted liability in the rand fixing scandal and has agreed to pay a fine of R42.7 million to the Competition Commission.

It is also believed that they will co-operate with the investigation into the scandal and name names.

Standard Bank is also being investigated, but Tshabalala insists that they were not involved.

We have looked at our call logs, we’ve looked at documentation, we’ve looked at people’s calls. And I can tell you is our traders conduct themselves with impeccable rectitude, as do our salesmen and women, and we’ve found no such evidence.

Sim Tshabalala, CEO – Standard Bank Group

Picture: Karabo Tebele

He adds that if there was any link to Standard Bank, they would own up to it.

Where people are guilty of wrongdoing, we will act. Where they are not, we will protect them.

Sim Tshabalala, CEO – Standard Bank Group