Can the banks challenge the policies from the government? Are the banks working for the people or the government? is there any possibility that banks can operate freely entirely from government policies?
It's the same gang, they are working together! In the last few years, it's been a real mess in my country... one of the interesting things is that banks used to charge clients to process a loan... and someone discovered it's illegal and people and some associations started suing banks for that! Over 30k lawsuits... and many won and got their money...
The Efektiva Association of Bank Clients said on Friday that it had filed criminal charges against officials at the National Bank of Serbia (NBS) who failed to prevent banks from charging clients to process loans despite the Supreme Court ruling.
The Serbian Supreme Court ruled that banks can’t charge clients to process loans unless they inform the client about every individual expense.
So, all services offered by the bank have a clear price, only the costs of loan processing do not! And it was like that until September... when some supreme court said "Banks have the right to collect credit commissions"... and now many people are confused, lawyers are striking against some new rules!
And to not mention how government said and banks supported how credits and loans in Swiss Franc are safe... so people took loans for buying apartments, approximately 50k euros, and after years of paying that loan they owe more than the value of the credit!!!!
https://www.obserwatorfinansowy.pl/in-english/financial-markets/chf-denominated-mortgages-in-western-balkans/And some countries and their governments find a way to help people, but not here in my country...
From the OP shared article:
Despite the central bank's actions, Nigeria's crypto market has emerged as one of the biggest in Africa!
I am always on a side of people! And it's nice to hear that Nigerians found a way around the banks!