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DATABANK SHUTS OFFICES, STAFF TO WORK REMOTELY DUE TO ATTACKS AND THREATS

Following assaults and threats against its staff, investment and fund management company Databank has announced the shutdown of its headquarters as of Thursday, December 22, and that all employees would work remotely.

The company claimed in a statement released on Wednesday that the “macro-economic crisis” the nation is currently experiencing has not exempted it from the liquidity issues that have plagued the fund management industry.

The situation has negatively impacted its ability to honour withdrawal requests as expected, however, while some clients have cooperated with the company, “there are several clients who have felt the need to abuse our staff physically and verbally, and also threaten their lives as well as their families.”

Databank said in the circumstance, it has “no choice but to move to a work-from-home option” and that while its offices will be physically closed, “we will continue to serve you and process transactions remotely, and all our digital channels will remain open just as we did during Covid. However, we cannot endanger the lives of staff by opening the office without any available liquidity.

“We are fully aware the current crisis in our industry is very concerning, and we continue to ask for your patience during these difficult times. We are very hopeful the Financial Stability Fund or any other Fund that the Government may provide in the interim will provide much-needed relief for you and other investors.

“We will provide another update once we have a clearer view of the situation.”

Read the full statement by Databank below.

 

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