12/18/2018
Access Bank, 27 lenders develop Global Banking Principles
By adopting the principles, Access Bank and the other institutions have signified a commitment to help promote the uptake of the principles among their members and networks.
Regulation,Tax & Compliance
12/18/2018
EAC deposit insurers to harmonise rules to fix troubled banks
EAC member states through the Monetary Affairs Committee resolved in 2016 in Kigali to jointly put in place measures to deal with troubled banks.
12/18/2018
UN to improve digital financial inclusion in Africa with FITAF
Data also shows that Africa, contributes 17 % to the total number of unbanked adults around the world, with Asia and Pacific accounting for 38% of unbanked adults.
12/17/2018
US to Strengthen Commercial Ties with African Allies
The World Bank estimates that the continent needs more than $90 million per year to begin bridging the infrastructure gap.
12/14/2018
Ghana could cut interest rates by March - Central Bank Governor
He said it was a measure that could help slow the recent fall in the country’s currency.
12/14/2018
Court orders GT Bank to refund ‘disappeared blocked-funds’ to MET Capital Group
The suit commenced in 2016 against GT Bank (Ghana) Limited and another customer of the bank, Linksfield Ridge Realty Limited.
12/14/2018
SA’s Communications Minister Takes Cybersecurity Campaign To Rural Areas
Ndabeni-Abrahams said her department is ramping up cyber safety efforts in preparation for the festive season.
12/13/2018
Imperial Bank clients to get Sh20.3bn more in KCB deal
“The binding offer accepted, includes granting access to 12.7 per cent of eligible depositor balances remaining at IBLR within 14 days of this announcement, subject to account and identity verifications,” said the joint statement.
12/13/2018
East Africa’s investment policies hurting foreign inflows into region
Last year, an Australian mining company, OreCorp, announced plans to review its operations in Tanzania after the country revised its mining laws to enable the government to renegotiate all mining
12/12/2018
SBM Bank eyes HNIs, small biz for growth
Besides SBM Bank, Singapore-based DBS Bank is also converting its local branches into a wholly owned subsidiary
12/12/2018
Kenya launches new generation currency
The 2010 constitution mandated the Central Bank of Kenya to spearhead the production and roll-out of the new currency.
12/12/2018
KCB cleared to acquire stake at Imperial Bank
To this effect, its bid has been accepted subject to completion within 14 days of the announcement.
12/12/2018
Central bank introduces new coins
Of note is a decision to do away with the Sh40 denomination coin that was introduced by former President Mwai Kibaki, and conspicuously bore his image.
12/12/2018
New legislation outlines rules for how South African banks should be treating customers
The two new authorities are the Prudential Authority which manages prudential risk
12/11/2018
EAC in crackdown on illegal forex trading
Bank of Tanzania carried out a six-month investigation into the illegal business
12/10/2018
Paying attention to trust structures can avoid surprises
Constantly changing tax laws and a greater scrutiny of trusts by tax authorities worldwide mean that South African trust structures need to be reviewed regularly
12/10/2018
Pension: PenCom Adopts Risk-based Supervision To Promote Risk Mgt
Stating that risk management is essential to the growth and credibility of the pension industry, he added that, adherence to the ethics and professionalism of the pension sector will limit exposure of operators to risk.
12/10/2018
IPEC endorses policyholder security
IPEC’s remarks come as Treasury plans to establish a Policyholder Protection Fund (PPF), administered by an Independent Board of Trustees meant to create a pool of resources similar to the Deposit Protection Fund.
12/10/2018
UK Serious Fraud Office ends first deferred prosecution agreement with a South African bank
The DPA required Standard Bank to pay fines and disgorgement totaling almost $26 million, pay an additional $6 million to compensate the government of Tanzania, and hire an external compliance consultant.
12/10/2018
Reverse deductions, pay pension arrears, ARFESPON tells FG
President of Lagos Chapter of ARFESPON, Mr Olufemi Odewabi, while speaking on the outstanding arrears, stated that it was painful to the pensioners that government had decided to turn deaf ears to the calls for payment of members huge outstanding arrears.