BE WARNED OF BANKS – BUTHELEZI

Swazi Observer - - NATIONAL NEWS -

MEM­BERS of Par­lia­ment (MPs) are warned of banks that might want to make a killing at the ex­pense of the un­sus­pect­ing leg­is­la­tors.

This was said by House of As­sem­bly Deputy Speaker Phila Buthelezi yes­ter­day. He said some banks would come knock­ing on their doors, want­ing to give them car loans, which they could get in a short space of time. He warned them that with other banks, they could find them­selves hav­ing to pay up the

loans even after their five-year du­ra­tion in Par­lia­ment. He said he found him­self in such a prob­lem with a cer­tain lo­cal bank, which he did not want to men­tion. “Just when I thought I was about to fin­ish my in­stal­ment of my car, I was told that I owed E30 000. I am now forced to re­pay the loan un­til next

year,” Buthelezi said. He fur­ther said such banks would be the ones that ap­proach the MPs and call them reg­u­larly and end­lessly. MPs are pro­vided an op­por­tu­nity by gov­ern­ment to get a car loan of up to E828 000. This loan is sub­sidised by gov­ern­ment, which pays only the in­ter­est of the loan.

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