10/15/2018
Pension industry under threat from financial bill
The current legislative instruments are old and ineffective to support the efficient, fairness and orderly operation of the financial system.
Regulation,Tax & Compliance
10/15/2018
African Development Bank showcases investment opportunities in Africa to Nordic investors
The aim of the event was to bring the Bank closer to customers in order to increase awareness of key private sector stakeholders to understand the Bank’s financial and risk mitigation products for investment projects.
10/12/2018
IMF and World Bank unveil Fintech Agenda
Fintech could transform the financial markets through which monetary policy actions are transmitted
10/12/2018
Basel AML Index reveals slow progress in combating money laundering
The findings tie into recent high-profile probes involving countries generally considered low-risk.
10/09/2018
Central bank cautions short-term debt risky
This means that CBK sees increased possibility of government having to mitigate the impact of debt repayments by negotiating for a series of refinancing given that the current profile is below its own targets.
10/08/2018
Apex Bank wants Corporate Tax for rural banks reduced
The ARB Apex Bank Managing Director also waded into the recent fallout of the collapse of some ingenuous banks calling on customers to exercise restraints instead of resorting to panic withdrawals.
10/08/2018
Bankers fault CBK for ‘dodging’ its responsibility on money laundering
The law requires all financial institutions including banks, insurance companies and Saccos to file with the Financial Reporting Centre (FRC) daily reports on transactions above Sh1 million and those deemed suspect.
10/04/2018
Global Financial Institutions Fined $26 Billion for AML, Sanctions & KYC Non-Compliance Since 2008 Financial Crisis
Over the past ten years, regulators across the US, Europe, APAC and the Middle East have levied nearly $26 billion dollars in financial penalties against financial institutions for AML/KYC and sanctions-related violations.
10/03/2018
Andersen Global Announces Added Presence in Africa
This collaboration with Tadesse Kiros further increases Andersen Global’s footprint in Africa, making this the eighth country in the continent in which the international association has a presence.
10/03/2018
Punitive proposed amendment to South Africa’s transfer pricing provisions
Ideally, where a taxpayer has been a participant to a potentially affected transaction, the taxpayer would ensure upfront that the potentially affected transaction has actually been concluded and implemented on an arm’s length basis.
10/02/2018
SARS 'rogue unit': Move to remove advocate from tax board list
The report KPMG produced suggested that the unit was breaking the law by using illegal methods, and was therefore "rogue in nature".
10/01/2018
African Bank shareholders given two weeks to amend R2.1bn claim
Hlumisa and Eyomhlaba accuse Abil and African Bank of authorising the publication of financial statements that were false and misleading between 2012 and 2014.
10/01/2018
Capital markets regulator, banks in financial innovation deal
The move allows the two organisations to collaborate in the areas of research, data sharing, analysis, and stakeholder engagement.
10/01/2018
Revocation of Skye Bank’s Licence, Inevitable, Analysts Say
This shift is credit positive in that it will contain systemic risks for the Nigerian banking system as a whole
10/01/2018
Unaitas says ready for commercial bank licence
“We are good to go, even if the licence was to be granted today. We will simply switch on and start offering services to our clients.
09/28/2018
CBK warns banks of stiff sanctions if found aiding graft
He said local bank heads owe a duty of care to the public not to abet or aid graft in public institutions
09/27/2018
Skye Bank Directors Under Investigation, Says NDIC
They are being investigated
09/27/2018
Standard Bank Says CBN May Review Fine on Stanbic
Stanbic was fined N1.8 billion for its role in sending the money abroad
09/27/2018
SA Development bank threatens to withdraw funding to Zambia
The Watchdog understands that Ms Mwanakatwe failed to provide a satisfactory explanation to DBSA which is now pondering withdrawing funding and possibly recall its loans.
09/27/2018
CBK seeks improved Imperial Bank offer
Imperial Bank went into receivership in October 2015, but no solution has been found despite numerous promises in the recent past that the matter is nearing conclusion