This article is not about throwing
stones at the 4th largest commercial bank of the DRC but about the reactions of
our government/central bank (BCC) to the issues faced by one of the most important
lenders in the economy.
By withdrawing the credit line that
BIAC was enjoying for a while, the BCC has created a general panic among the
bank’s customers.
It is difficult to understand why
the authorities will just shut down this credit line, create panic, and then
publish press release saying everything is fine don’t worry we are putting
that credit line back!
Why would you do something like that!?
Especially if it’s to put that credit line back few days later.
How did they expect the 340 000
customers to react to a news that the bank is facing liquidity issue?! Off
course people will try to take back their savings before it is too late and
this is exactly what is happening now. The confidence is broken and it will
take a long time for the bank to regain its customers’ trust. Thanks to who?!
Don’t get me wrong, I am not against
BCC punishing banks that are not respecting the regulation but instead of reacting
a posteriori, the authorities should have ensure this situation never have
happened. Why do we have all those regulations if they are not controlled and
enforced efficiently?
The reason I am mixing the
government and the BCC here is because it is not clear which entity was at the
origin of this situation. However, the BCC is not independent from the
government, therefore it is not a big deal to know who caused this as at the
end of the day it is the same…
In default of creating jobs, the
government should try to avoid destroying the existing ones by using outrageous
maneuvers. BIAC has the largest number
of employees of the banking sector and the consequences of this foolish
decision could have disastrous effects on an economy that is already struggling
due to the commodities crisis and the political uncertainty.
