The Office of the ANC Chief Whip in Parliament Jackson Mthembu says the ANC caucus will engage and scrutinise the EFF’s proposed amendments to the Reserve Bank Act  at a committee level to decide on the desirability  of the Bill and if it is in line with ANC policy.

This comes after Economic Freedom Fighters (EFF) leader Julius Malema submitted a Private Members’ Bill to Parliament proposing the nationalisation of the South African Reserve Bank.

The South African Reserve Bank Amendment Bill was received by Parliament on Thursday.

ANC Caucus Spokesperson is Nonceba Mhlauli, says, “The ANC will interact with the bill as we do with all Private Members’ Bills at committee level and depending on the interactions of the ANC at committee level, as well as the consultation, that the caucus will have with the leadership of the ANC … we will then decide on the desirability of the bill; if it is indeed in line with current ANC policy and resolutions on the matter.”

The Reserve Bank says it has noted the proposed Amendment Bill. The Economic Freedom Fighters (EFF) introduced the South African Reserve Bank Amendment Bill to Parliament aimed at doing away with private shareholders at the bank.

In a statement released a short while ago, the bank says it will continue to engage with the parliamentary process.

However, one of the bank’s shareholders, German national Michael Durr says any attempt to expropriate their shares would be challenged.

“The International Centre of Investment Despites at the World Bank, the arbitration body for German-SA bilateral treaty, they go through all the facts and they make findings. It’s legally binding. It means I can impound an SAA plane in Munich … I can impound anything that SA government has some assets.”