Johannesburg - Had the ANC and Cabinet succeeded in forcing the big banks to keep Gupta-linked accounts open, the consequences would have been dire for the banking sector and the country.
Absa's former head of compliance Yasmin Masithela told the state capture inquiry on Tuesday that nowhere in the world was the executive permitted to interfere in banks' relationships with their clients.
Masithela told the commission that Absa was invited to meet with cabinet's inter-ministerial committee (IMC), which was chaired by the former minister of mineral resources minister Mosebenzi Zwane, in 2016 to discuss "recent media reports".
She said the bank declined to meet with the committee after they were not provided with information regarding who would attend the meeting and there was no clear agenda on the proposed discussions.
Masithela said the bank declined a second invitation to meet the committee and it questioned the committee's mandate query its relationships with its clients.