05/27/2015
Rand Probe May Stem From Whistle Blower or ‘Confession’
An investigation by South Africa’s anti-trust regulator into alleged foreign currency manipulation involving the rand may stem from a whistle blower or “a confession”
Regulation,Tax & Compliance
05/27/2015
Shadow banking in the spotlight
‘Regulation not the silver bullet.’
05/22/2015
RBZ approves NMB Bank top-tier status plan
THE Reserve Bank of Zimbabwe has approved a plan by NMB Bank that will see it attaining top-tier status of $100 million minimum equity capital by 2020, its parent company said yesterday.
05/21/2015
SEC Suspends BGL From Capital Market Operations
SEC directed that “BGL Asset Management Limited, BGL Capital Limited and BGL Securities Limited be suspended from all capital market activities
05/21/2015
BoB shuts down Kingdom Bank
The High Court has granted an order for operations of troubled Kingdom Bank Africal Limited (KBAL) to be wound up after a forensic audit found the bank to be insolvent.
05/21/2015
Nene worried forex probe may expose risks in banking system
The Competition Commission said on Tuesday it suspects 11 companies of using electronic messaging software to co-ordinate foreign exchange deals when quoting prices to customers.
05/20/2015
S.Africa probes global banks over forex fixing
The probe follows other forex investigations around world that began two years ago
05/19/2015
NIC tightens rules on claim payments
Sometimes, it takes about two or three years, and even when the company agrees to pay
05/14/2015
Senior and middle level managers to mainstream Anti-Corruption policies
The Anti-Corruption Commission (ACC) with support from European Union (EU) on Monday 11th and Tuesday 12th May 2015 encouraged senior and middle level managers of the Civil Service to mainstream anti-corruption initiatives into their programs and activiti
05/13/2015
Five banks lose N312m to CBN’s sanctions
The bank was fined N184 million for not obtaining approval from CBN
05/11/2015
SA’s financial sector needs transformation, says Nene
Transformation is part of government policy to redistribute wealth to previously disadvantaged people.
05/07/2015
Zimbabwe needs urgent reforms to improve business climate – ZIA
Policy inconsistencies have also been cited as reasons behind low FDI inflows into the country.
05/06/2015
African Bank-Inspired Law Change Approved, Boosting Rescue Plan
South African lawmakers approved changes to rules covering distressed lenders
05/05/2015
Botswana: Establishment of Financial Services Ombudsman Essential
On the other hand, the current Office of the Ombudsman investigates complaints of injustice or maladministration the public service received from the public
05/04/2015
Belvedere update: Mauritius FSC suspends Belvedere’s management licence
Cites failure to comply with the law
05/03/2015
RBZ gives distressed banks June deadline
The Reserve Bank of Zimbabwe has given troubled banks a June deadline to shape up or ship out as it moves to bolster the banking sector.
04/26/2015
CBN to probe banks' foreign subsidiaries compliance with anti-money laundering regulations
The Central Bank of Nigeria has initiated the examination of Nigeria’s banks’ foreign subsidiaries and branches on their rendition of returns and compliance with anti-money laundering regulations.
04/24/2015
Kenya gets Qatari help for financial centre plan
The new legislation for banks would enable international lenders with operations in Kenya to use courts in London
04/24/2015
Kenya: Bancassurance Draft Rules Now At Treasury
The regulations will, among other issues, address complaints by insurance agents
04/15/2015
CBN Slashes Spending Limit on Naira Debit Cards to $50,000 Per Annum
The Central Bank of Nigeria (CBN) on Tuesday reviewed downward the spending limit on the usage of the naira denominated debit cards for transactions abroad