BY MBONO MDLULI
MBABANE – The Financial Services Regulatory Authority (FSRA) has come out to warn Emaswati on a financial services provider known as Impendulo Yosizo Funeral Services.
In a statement issued by FSRA Chief Executive Officer (CEO) Ncamiso Ntshalintshali, Emaswati should not subscribe to this financial service provider, as it has not registered with FSRA, as per the Financial Services Regulatory Authority Act of 2010.
According to the CEO, the company is said to be operating in the Lubombo Region, around areas such as Siteki. He said this illegal activity of collecting monthly premium, without registering with FSRA, was against the Insurance Act of 2005 and the FSRA Act of 2010.
Ntshalintshali said they have since referred the matter to the police for investigation and prosecution. He further warned Emaswati to ensure that any organisation providing insurance services or any other financial services should not be entertained unless it was legal. He said they should check if that company had a valid FSRA licence, or confirm its legitimacy through the authority.
Ntshalintshali said this action was meant to protect the consumers in the financial services industry. This was also done to ensure that the integrity of the country’s financial services sector was upheld.
