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CENTRAL BANK WARNS PUBLIC OVER ILLEGAL COMPANY

The Central Bank of Lesotho (CBL) has issued a warning regarding doing business with a company called EASE.

By Staff Writers

CBL said as the commissioner of financial institutions, has become aware that there is a company by the name of EASE which invites members of the public to buy its shares on the pretext that it is in the process of registering a stock exchange.

“Members of the public are advised to desist from engaging in any business with the said company as it is not a licensed institution and, therefore, is not allowed to receive deposits from the public,” the bank said in a statement.

It added that: “The Central Bank of Lesotho is engaged with law enforcement agencies regarding the activities of the said company. Members of the public are earnestly advised to be careful with their hard earned money and enter into agreements that involve money only with licensed financial institutions.”

The principal objective of the Central Bank of Lesotho, as stipulated in the Central Bank of Lesotho Act of 2000, is to achieve and maintain price stability.

Other related objectives which are supportive to this mission are to, among others, foster the liquidity, solvency and proper functioning of a stable market-based financial system, license, register and supervise institutions pursuant to the Financial Institutions Act of 1999, the Money Lenders Order of 1989, and the Building Finance Institutions Act of 1976, and the Insurance Act of 1976 and to formulate, adopt and execute the monetary policy of Lesotho. NW

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