05 October, 2009

The Ombudsman for Banking Services, Clive Pillay, will attend the annual meetings of the World Bank and the International Monetary Fund in Istanbul, Turkey.

Pillay is one of many accredited representatives who will be participating in the meetings, which take place from 6 October.
He said he was delighted to have the opportunity to attend the meetings, where the global financial crisis, recovery and structural reform, and the future of the global financial system would be debated.

"The World Bank seeks to reduce poverty by providing loans, grants and technical assistance to developing and transition countries, while the International Monetary Fund oversees the global financial system," he said.

The International Monetary Fund stabilises international exchange rates and assists reconstruction of the world's payment system.

Pillay, originally from Port Elizabeth and a lawyer by profession, moved to Johannesburg five years ago to take up a position as deputy director of the Asset Forfeiture Unit (AFU).

Soon afterwards, he was appointed as acting regional head of the AFU for Gauteng. In 2007 he was appointed as the Ombudsman for Banking Services.

Pillay spent many years in practice in Port Elizabeth, and served as a judge of the Eastern Cape courts on various occasions. He left the city with three law degrees under his belt and has since acquired a second masters degree in international law and a clutch of diplomas.