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.
While some customers have cooperated with the company, the situation has adversely impacted its ability to honor withdrawal requests as expected. However, “there are several customers who have felt the need to abuse our staff physically and verbally, as well as threaten their lives as well as their families.”
While its offices would be physically shuttered, Databank stated that it has “no alternative but to transition to a work-from-home option” and that while “all our digital channels will stay available just like we did during Covid,” it will still be able to serve customers and process transactions remotely. However, operating the workplace without any available cash would put the lives of the personnel at risk.
“We continue to appeal for your patience during these trying times, fully aware that the current situation in our business is highly worrying. We have high hopes that the Financial Stability Fund or any other interim fund the government may establish will offer much-needed relief to investors like you.
“Once we have a better understanding of the situation, we will provide another update.”