A new search warrant was executed at Tonga Development Bank (TDB) as the final court decision regarding directives to remove its Chief Executive Officer and Chairman was still in progress.
The TDB issued a statement last week reassuring its customers about the security of their personal information. The statement emphasised that all customers’ records remain secure and have not been compromised.
The statement comes after the Police “execution of search warrant 58/24” it said.
“We undertake to maintain the confidentiality and integrity of your personal information and are taking all the necessary steps to uphold these standards.”
The search warrant also comes after Police searched the bank in May after a complaint regarding an alleged breach of the Banking Act. The National Reserved Bank of Tonga (NRBT) likely made that complaint.
At the time, TDB said it had received grave concerns from its customers and the public regarding the search warrant executed on its premises.
The police actions against TDB come after the NRBT sought to override the TDB by issuing directives that, among other things, removed its CEO, Emeline Tuita and board chairman Penisimani Vea.
Court decision
In a decision in September, Lord Chief Justice Malcolm Bishop KC said that the NRBT’s actions were designed to ensure that it closely controlled the TDB and had a veto on any of that bank’s activities.
Mr Malcolm commented after the TDB asked for an interlocutory mandatory injunction restraining the NRBT from enforcing its directives.
The Lord Chief Justice said: “I am in the doleful position of concluding that whatever order I make some harm will irreparably follow.”
“If I restore the CEO and the chairman there is inevitably a danger of friction and unfavourable working conditions.
“Thus, what I have to consider is not the balance of convenience but the balance of inconvenience. What is the least worst solution?
“I am on the current state of the evidence and material before me not persuaded that the supervisory role of the reserve bank excludes supervision of the economic activities of the Development Bank.
“I accordingly order that will be the basis that the CEO and chairman continue in place pending the resolution of this matter at trial.
“I am entirely conscious of the fact that this may make for friction and difficulty but that responsible people, as I accept those in the employ of the Development Bank and the National Reserve Bank are, will be dealt with in a grown-up way.”
