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Peter Nyakulenga approaches you a student of Banking law and Practice to advise him on his entitlements as a customer
THE COPPERBELT UNIVERSITY
SCHOOL OF BUSINESS
BANKING LAW AND PRACTICE
ASSIGNMENT 1
Peter Nyakulenga is a Kitwe Businessman who has been reported to Financial Intelligence Centre (FIC) for money laundery by MONEY Bank. On the 15th of January, 2023 , Peter Nyakulenga deposited ZMW 350 000.00 and then a day later on 17th of January, 2023 deposited another ZMW 100 000.00 in various mobile money accounts. FIC then asked Peter Nyakulenga to account for K450 000.00 that he deposited in line with the information supplied the Bank. Peter Nyakulenga approaches you a student of Banking law and Practice to advise him on his entitlements as a customer. He further wants you to explain to him whether or not mobile money providers also conduct banking business as required by the law. (15 marks)
INSTRUCTIONS
1.5 Spacing
12 font size
4 typed pages excluding cover and bibliography
Times New Roman
Use of authorities a must
Due date 8th February, 2023
ASSIGNMENT 2
Ruth Cute, is a woman aged 35 years and adopted to stand as a Member of Parliament for University Constituency. She has some financial challenges and approached FCK Chambers to lend her ZMW 2 000 000.00 to manage her campaign. FCK Chambers approached Dibili Financial Bank where Ruth Cute operates a saving account to provide a financial profile of Ruth Cute.
Dibili Financial Bank represented that Ruth Cute is financially sound describing her to be a “Some of us.” Based on this representation, FCK Chambers lent the money to Ruth Cute. However, it turned out that the Bank covered the financial scandals of Ruth Cute who was even convicted of Fraud and had her sentence suspended, all in the name of fear of breaching the Bank’s duty to Ruth Cute as a customer. You have been approached by FCK Chambers to advise on the possible action to take. Advise (15 marks)
INSTRUCTIONS
1.5 Spacing
12 font size
4 typed pages excluding cover and bibliography
Times New Roman
Use of authorities a must
Due date 8th February, 2023
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