10/07/2020
KMRC rejects Sh16.5bn mortgage funding bids
Chief executive Johnson Oltetia did not disclose the portfolios submitted by individual lenders.
Regulation,Tax & Compliance
10/07/2020
Court blocks push to eliminate bank deposit disclosures
Mr Kobia argued it was illegal for banks to impose rules that make cash withdrawals difficult and which breach the confidentiality of financial transactions.
10/07/2020
Banks fighting cyber fraud with strict measures – Bankers’ chief
Also, in recent times, the various forms of advanced technologies adopted by financial institutions have made the banking sector more susceptible to various risks such as phishing, identity theft, card skimming, fishing, email fraud and more sophisticated
10/07/2020
African Development Bank wins global award for COVID-19 bond issue
In 2018, the Bank was recognized as “Second most impressive social or sustainability bond issuer” at the Global Capital Socially Responsible Investments Awards.
10/07/2020
The offshore cash conundrum solution
Offshore policy wrappers offer some real solutions to some of the potential issues with investing offshore.
10/06/2020
CBN approves new cheque standard for banks
A new cheque standard has been approved by the Central Bank of Nigeria.
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.