WI Xinja money ‘taking longer’

Xinja Bank “raised $10 million [in capital] last week” the bank dumbfounded its depositors with a comment on blog post last night.

Xinja needs capital and it needs a dollop along the lines of the $160 million committed by Dubai-based World Investments, and nominally due by the end of this week.

“We have been running lean and cost cutting through a variety of measures as a precaution,” Camilla Cooke, the community manager at the bank wrote on the blog.

“The money we anticipate from the WI investment is going to take a lot longer to get here thanks to COVID, as the UAE regulators have almost slowed to a halt,” Cooke said.

Cooke also confirmed Banking Day’s report on Tuesday morning.

“We actually only applied for JobKeeper on Friday - we did the self-assessment and qualify but it hasn’t happened yet. There are now more than 900,000 Aussie companies who’ve applied.”