10/06/2020
CBN approves new cheque standard for banks
A new cheque standard has been approved by the Central Bank of Nigeria.
Regulation,Tax & Compliance
10/05/2020
NDIC set to pay insured depositors of liquidated Femaz Microfinance Bank
The affected depositors are to present their cheque books, passbooks, and other proofs of account ownership, together with a valid means of identification on alternate account.
10/05/2020
Banks shouldn’t lend to states without our approval – FRC
On lending to states by DMBs, the communique read in part, “No commercial bank should lend money to states without approval from the FRC, in line with the provisions of the FRA.”
10/05/2020
Portuguese regulator calls for criminal prosecution of auditors following Luanda Leaks
The regulator also identified situations in which auditors failed to identify parties to transactions, lacked adequate documentation to show “economic substance of underlying transactions” and did not maintain ”professional skepticism,&a
10/05/2020
Nigeria widens markets’ depth with central counterparty clearing houses
SEC’s approval-in-principle has been described as a ground-breaking development which opens up the financial markets to possibilities of permissible products.
10/02/2020
Kenya and France sign three bilateral deals to boost economic ties
The highway is one of the largest PPP projects in Eastern Africa.
10/02/2020
African Development Bank wins global award for COVID-19 bond issue
The winners of the GobalCapital Bond Awards 2020 were announced on 30 September at a ceremony held virtually for the first time in 12 years
10/02/2020
Ghana should consider revising pension age
According to Mr Atta Krufi, Ghana’s retirement age of 60 years could result in losses in the workplace in both human and financial resources.
10/02/2020
Announcement from the Ministry of Financial Services and Good Governance - Mauritius
Mauritius had already agreed to implement a detailed Action Plan within an agreed timeline with the FATF, to be removed from the FATF list and subsequently from the EU list.
10/02/2020
Monetary policy failed to cushion consumers in Q2
This failure had two main components.
10/02/2020
ICA to offer financial crime prevention education in East Africa
The need for effective financial crime prevention training has never been more pronounced
10/01/2020
Bank eyes Mozambique, South African markets
The bank said the first is an initial cash consideration for a 49 per cent shareholding, increasing to a majority stake in the second tranche.
10/01/2020
Treasury reopens long-term bonds in Sh50 billion sale
The government is targeting to raise Sh50 billion from the two-tranche bond issue, intended for general budgetary allocation.
10/01/2020
Banks get CBK's nod to start blacklisting loan defaulters at CRBs
The CBK announced the suspension of CRB listing for loans that were defaulted after April 1, and the relief was to last for six months to September 30.
09/30/2020
Lenders exempted from mortgage cap in State-backed plan
KMRC will lend to banks and financial co-operatives at an annual interest of five percent, enabling them to write home loans at rates lower than average market rate of 11.94 percent.
09/30/2020
Opec Fund lends Sh2bn to bank for SME loans
Ms Vivienne Yeda, the director general of EADB, said the funds will be deployed to "promote enterprises that generate employment opportunities, social economic development and consequently promote regional integration."
09/29/2020
New case deals with the freezing of bank accounts in South Africa
“In the matter of Houtbosplaas (Pty) Ltd v Nedbank Ltd, the applicant companies had a complex shareholding structure. In essence, the shares were held by four registered trusts,” said Janse van Rensburg
09/29/2020
Booming Africa crypto adoption sparks regulation concerns
The rapid growth of blockchain technology in Africa has raised concerns over a heavy-handed regulatory response that would hinder local innovation.
09/29/2020
US, Somalia ink debt relief deal
Mr Yamamoto stated that the US commends Somalia on its efforts towards economic reform.
09/29/2020
US warns Kenya over shilling manipulation
Kenya and the US on July 8 formally launched negotiations for a bilateral trade pact that the two countries hope could serve as a model for additional agreements across the African continent.