FDH Bank, FAM cut ties over Mk4.7million gate collections scandal

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FDH Bank has cut its business ties with the Football Association of Malawi (FAM) following the vanishing of Mk4.7million raised from a football match between rivals Nyasa Big Bullets and Be Forward Wanderers played on June 16 2017 at Bingu National Stadium in Lilongwe.

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Apparently, FDH Bank had a partnership with FAM, where by the bank’s cashiers would handle gate collections at the end of each and every football match.


But on the material day, as alleged by a published statement from the bank: “FDH Bank cashiers on duty were not given the time and space to balance and reconcile the tickets they were given and the cash they collected as it used to be done in previous games. In previous games, where bank cashiers were allowed to balance and reconcile, no shortages were reported.


“Under very intimidating and unsecure circumstances, the stakeholders led by the club representatives demanded both the cash and the tickets for them to reconcile. As the situation got tense, key FAM Officials fled the scene and left the Bank cashiers to deal with the situation on their own with total strangers. It is our considered view that this was done deliberately to confuse the situation for their own intention.”


Following the incident, the statement further disclosed that FDH Bank officials held a meeting with FAM, on Tuesday this week, where the bank announced that it would no longer be involved in gate collections “because we have no control over setting of parameters and conditions under which proper reconciliation can be carried out. Our staff are also not safe in such environment.”


Added the bank: “It is therefore clear that FDH Bank cashiers were not responsible for whatever is claimed to have happened. Further to the above and to safeguard the integrity of the FDH Bank brand, the bank will no longer be involved with Football Association of Malawi as a partner.”


There was no immediate reaction from FAM as went to the press on Friday morning.

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