Thursday, November 20, 2008

South Africa wanted to audit the LBW

The Bank of Portugal had ignored a request from South Africa to audit the management model of the Portuguese Business Bank in 2001. Former Minister of Cavaco Silva insists provide clarification in Parliament.

South Africa took the initiative to request an audit of the Bank of Portugal (BP) because there are doubts as to the management model of the Portuguese Business Bank (LBW). The request was ignored in 2001 by senior central bank headed by Victor Constantius, but South Africa remains determined to contribute to clarify what happened, although not to make statements to the media.

According to the "Newspaper News" found, the request was expressed in April 2001 the vice-president of BP with responsibility for the supervision, Antonio Marta. That is: one and a half years after assuming duties as a director of the Society of Business Lusa, South Africa had doubts about the internal management of LBW. In March 2002, ceased to exercise executive and sold its shares. The audit never came to be held in South Africa and the request to be heard in the Assembly continues to be to clarify where the business was involved and demarcate from the management model.

He went three times to Puerto Rico to treat the purchase of a company and see how it works. Oliveira e Costa, president of the bank, followed him in after visiting the plant. On the third trip by resolving a dispute between shareholders.

There's still a firm purchase of a water and sewage in Morocco, involved in the creation of a partner company's Autoeuropa and negotiated the entry of Caixa Galicia in LBW.

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