ZSFI Shutdown
At the time of writing – September 28th – it has been 2 weeks since the dissolution of the ZSFI. This has come with some questions still left unanswered. I shall be answering some of these questions in this article, as well as expanding on the info provided but our High Judge Tal si Hala.
Why was the ZSFI shut down?
Since the ZSFI's creation, it never had a legal basis to justify its existence! The ZSFI was created as a direct executive order from the general secretary at the time, Yadal Krakhovich. The decision was made based on the conditions of the time, and his personal response to those conditions, such as the apparent success of crimson banking. Since the however, its purpose became less apparent, with few people creating and using accounts. The ZSFI lacked much functionality to begin with. The final straw to the High Judge and larger Zilatran government, was the unexpected disappearance of the chairman, Freeman. The decision was hence made to dissolve the ZSFI as a combination of these reasons.
How does the ZSFI get dissolved?
Because the ZSFI as an institution was never enshired in the constitution, nor had a Kelitá bill to support its existence, this meant that it could be dissolved through a direct executive, or Judicial orders, the same wa it had been created. This means that it has completely ceased to exist as a separate institution, and all financial activities now fall under the INDCOM once again.
What happens to all the money?
All ZSFI funds have been re-located to the Lasaji claim, where I directly manage the funds. As for those who made accounts with the ZSFI, they will all be paid the money back which they deposited into the bank. If those account holders wish they money could also be absorbed into the national account.
Surely the ZSFI was or could have been made more useful?
Of course! Banking institutions on Stoneworks are generally very risky institutions to maintain, without being a liability on those who created it. It involves a lot of trust between parties, a lot of bureaucracy, and a lot of work. Something similar to the ZSFI may be created in the future if need be. In this scenario, it would look very different, with more purpose, and better organisation.