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Bank collapse: NIC, Securities & Exchange Commission face Parliamentary Committee Today

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Officials from the National Insurance Commission (NIC) and the Securities and Exchange Commission will appear before the Finance Committee of Parliament Friday in the probe of the collapsed banks.

Chairman of the committee, Mark Assibey Yeboah said these two institutions also crucial as far as the probe into the collapse of the banks are concerned.

He said a lot of the banks which collapsed ended up moving money into the establishment of insurance firms.

He cited Beige Capital as establishing Beige Pensions adding that some of the banks also moved money into investment firms.

Therefore these two institutions will appear to explain how the entities where the monies were moved to are faring and their links with the collapsed banks.

September 7 will be the third and last day of the probe and after the Finance committee will come up with a report on the way forward.

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