Parliament has scheduled a debate on the VBS financial scandal‚ in which R1.9bn was looted by politically-connected figures from the mutual bank.

The motion proposed by ANC Chief Whip Jackson Mthembu under the title “The VBS Mutual Bank Report: The Great Bank Heist – a matter of public importance" is due to be debated on Tuesday October 23‚ a day before the Medium Term Budget Policy Statement is to be presented by finance minister Tito Mboweni.

"The ANC parliamentary caucus saw it prudent to bring this matter of public importance‚ affecting the most vulnerable of our people‚ who invested their hard earned monies in the VBS Mutual Bank‚ to Parliament for debate‚" said Mthembu in a statement.

Mthembu said they also supported calls that all those implicated in the looting‚ including ANC political figures‚ should be referred to law enforcement agencies.

“Our stance on this matter is informed by our conviction that those who have been found guilty of any wrong to be processed by our law enforcement agencies.

“We further reiterate the stance of our organisation that leaders and members of the ANC who are implicated and/or accused of wrong doing in the report to be referred to the Integrity Commission of the ANC. This is in line with the ANC’s 54th Conference Resolutions on combating fraud and corruption and restoring the values and integrity of the ANC.”

DA leader Mmusi Maimane had on Wednesday written to National Assembly Speaker Baleka Mbete requesting a similar debate.

But Mthembu's spokesman‚ Nonceba Mhlauli‚ said next week was the ANC's turn to sponsor a motion for a debate in terms of parliament's rotational system.

“Parliament has through its conventions established a rotational basis within which political parties introduce motions for debate in the National Assembly. Based on the rotational schedule‚ next week is the ANC’s slot for sponsoring a debate. The ANC therefore felt that it is prudent to use this opportunity to debate this matter of extreme public importance affecting the poorest of the poor who invested their hard earned monies into the bank‚ "she said.