By Rahim Abdul
Malawi’s Judiciary has expressed concern over public reactions surrounding a recent ruling by the Court of Appeal on the controversial closure of Finance Bank in 2005 by the Reserve Bank of Malawi.
In a statement released by Registrar of the High Court and Supreme Court of Appeal, Innocent Nebi, the Judiciary clarified key aspects of the ruling to address what it described as misunderstandings circulating among the public.
According to the statement, the Court of Appeal did not determine or announce the specific amount of compensation to be paid in the matter. Instead, the court directed the Assistant Registrar of the Court of Appeal to assess the issue of damages in line with Section 65 of the Courts Act.
The Judiciary emphasized that the process of assessing compensation will follow established legal procedures and that any financial determination will be made after thorough review and consideration of the law.
The statement further stressed that courts in Malawi remain independent and are guided strictly by the Constitution and other applicable laws in delivering judgments.
Citing Section 9 of the Constitution, the Judiciary reaffirmed its commitment to upholding the rule of law and ensuring that justice is administered without interference or bias.
The clarification follows last week’s landmark decision by the Court of Appeal, which found that the Reserve Bank of Malawi did not follow the law when it closed Finance Bank in 2005.
At the time, the central bank had taken action against Finance Bank over alleged violations of foreign exchange regulations, a move that later sparked legal battles stretching over two decades.
The recent ruling has reignited debate across the country, with various stakeholders weighing in on the implications of the judgment and the potential financial impact on the government.
However, the Judiciary has urged the public to rely on official court documents and statements, warning against misinformation as the legal process regarding compensation continues to unfold.
