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Bank's and CDSC accounts
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Evolve
#1 Posted : Tuesday, May 26, 2009 6:59:00 AM
Rank: Member


Joined: 9/25/2007
Posts: 96
Is it in order for CMA/CDSC to insist that banks should collect lien fees from borrowers financed to purchase shares? Is EB's lending to Safaricom IPO investors unsecured?
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VituVingiSana
#2 Posted : Tuesday, May 26, 2009 7:38:00 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,097
Location: Nairobi
If 'unsecured' it's EB that takes the risk...

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Chaka
#3 Posted : Tuesday, May 26, 2009 7:53:00 AM
Rank: Elder


Joined: 2/16/2007
Posts: 2,114
Maybe CDSC levies a charge to lock/unlock trade in the shares till the borrower pays

up.
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Layman
#4 Posted : Tuesday, May 26, 2009 7:58:00 AM
Rank: Member


Joined: 9/21/2006
Posts: 422
Location: Nairobi
Equity bank wanted to retain the shares as lien for the loans given and the rules of CDSC say that a client whose shares are used as lien pay 1000/= kenya shillings. Equity collected this ans is refusing to give it to CDSC. It was a rule even before equity gave out the loans,so what is the politics about. Pay up,Equity or can i say like mwange Ekweti bank.

The future is already here!
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