11 Jul 2018

NAB welcomes ASIC ban against former banker

ASIC today announced its decision to ban Mr Rabih Awad from engaging in credit activities and providing financial services for seven years, after he was investigated by ASIC for loan fraud.

NAB welcomes this decision. Mr Awad was terminated from his employment with NAB in December 2015, and NAB reported him to ASIC.

The ban follows NAB’s announcement of a remediation program for home loan customers in November 2017, after an internal review found some home loans may have been submitted with inaccurate customer information and/or documentation, or incorrect information in relation to NAB’s Introducer Program.

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