# Union federation Saftu is calling on the Competition Commission to penalise all 28 banks that were part of currency manipulation of the South African rand and the US dollar, including imposing heavy fines. It says such behaviour, if repeated, has the potential to sabotage the country’s balance of payment and growth prospects. Saftu’s spokesperson, Trevor Shaku, says besides, commercial banks are nothing but chartered banks of the Central Bank, and must be shown that whatever illusions they harbour, they are not more powerful than the state:
Saftu asks Competition Commission to penalise banks that were part of currency manipulation [SOUND]