Save Ithala Bank from being liquidated by the South African Reserve Bank.

The ITHALA Bank has been a beacon of hope and strength for the black community for several decades. It provides affordable access to banking for black clients, mitigating the historical exploitation of this group by white-owned financial institutions. Especially for the ordinary members of KwaZulu-Natal and the broader society, this bank is a vital entry point to financial services.

ITHALA Bank has a mission to foster financial inclusion, but its earnest efforts are now under threat. The South African Reserve Bank is considering its liquidation, a move that will disproportionately affect the black community it serves.

There is a pressing urgency to prevent this liquidation. Few institutions are as committed to affordable financial access as ITHALA Bank, and the loss of its services would mean a devastating blow to financial inclusivity efforts in South Africa. We cannot sit back and watch as the cornerstone of our community is robbed away from us.

Invoking provisions of the South African Banking Regulation Act, we call on the South African Reserve Bank to reconsider their decision to liquidate ITHALA Bank. This institution has played an essential role in propelling our society forward by actively promoting financial inclusion.

Let us come together to ensure the continued operation of ITHALA Bank - a bank for us, by us, and of significant societal value. Your signature is a powerful tool. Help us in this cause that is more than just about a bank, but about preserving a bastion of hope for our community. Please, sign this petition.

The petition serves as an indication from the black community in the country that numerous of our black owned financial institutions like VBS, African Bank and 3Sixty Life Insurance and numerous small scale businesses have deliberately faced institutionalised racism and attempts to shut them down. 

ENOUGH IS ENOUGH. 

Concerned clients of Ithala Bank.    Contact the author of the petition