04/29/2016
Panama Papers: Tax evaders beware Special Voluntary Disclosure Programme excludes those who have already been exposed.
Special Voluntary Disclosure Programme excludes those who have already been exposed.
Regulation,Tax & Compliance
04/29/2016
Zimbabwe central bank sued over failure to revive currency
Zimbabwe has exclusively used foreign currency for all transactions since early 2009 after the Zimdollar was rendered worthless by a world record-breaking hyper-inflation.
04/29/2016
Plan to encourage Islamic banking faces setback
The Bank of Ghana has over the past three years maintained that it is working to encourage the establishment of an Islamic Bank in Ghana.
04/29/2016
The greatest growth story of the twenty first century?
Once dominated by mining stocks, it is now a far more modern and diversified bourse, where industrial and financial counters play a much bigger role.
04/28/2016
KENYA: More regulation needed in the banking sector
Ultimately, small banks will need to re-evaluate whether they are 'too small to succeed', and whether consolidation is the better option.
04/28/2016
Global remittances slow, while regulation restricts access
Workers' remittances are a significant part of international capital flows, and the inspiration of many bitcoin and blockchain companies.
04/28/2016
Plan to encourage Islamic banking faces setback
Under the current banking laws, an institution that is granted provisional license has about six months to recruit personnel
04/27/2016
Central Bank of Kenya seeks powers to name rogue banks
Officials of the Bank Supervision Unit said the sanction was necessary to make sure banks respect the directives of the CBK as a regulator.
04/25/2016
South African Reserve Bank Sees Potential For Real Bitcoin Growth
It is always good to know how several banks around the world feel about Bitcoin, even though the outcome will be identical in most cases.
04/24/2016
UBA, GTB, Zenith and Sterling Banks fined N3.2bn by CBN
Others are failure of the bank to meet the deadline for transfer of funds to the TSA, N4m
04/22/2016
KBA threatens to expel banks condoning malpractices
Corporate governance malpractices have led to the shock closure of Chase, Imperial and Dubai banks in nine months
04/20/2016
Joint statement on the fight against illicit financial flows, by OECD Secretary-General Angel Gurría and Thabo Mbeki, Chair of the High Level Panel on Illicit Financial Flows from Africa
While there has been significant progress in the past few years due to a global crackdown on opacity and secrecy in financial and tax matters, more needs to be done.
04/20/2016
Seychelles issues guidance to financial institutions on FATCA reporting
Seychelles is negotiating a Model 1B IGA with the US. On May 28, 2014
04/19/2016
South African regulator approves IDS hedge fund hosting schemes for 83 hedge funds
IDS identified the need of hosting many hedge fund managers who prefer not to own or run their own CIS Management companies.
04/18/2016
Capital Markets Authority moves to assure investors in Chase Bank subsidiary
The bank's first tranche of the issue was oversubscribed by a whopping 161 per cent, raking in Sh4.8 billion against a target of Sh3 billion.
04/18/2016
Central Bank of Kenya governor mocks investors’ appetite for caps and power-banks
Central Bank of Kenya Governor Patrick Njoroge has scorned shareholders for reducing annual general meetings to discussions on umbrellas and caps.
04/18/2016
Africa’s offshore wealth: feeding inequality
Rise of Africa’s rich has been good business for banks but less good for development
04/15/2016
Update 1-Kenya central bank evaluates offers for closed Chase Bank
Mid-sized Imperial Bank was taken over in October after fraud was uncovered. Two months earlier, smaller lender, Dubai Bank, was put in receivership.
04/13/2016
New Bank of Ghana governor commits to IMF plan to stabilise economy
At the same time, gross domestic product growth has fallen from about 14% in 2011 to 4.1% last year
04/12/2016
8 Banks Pay N3.32bn As Fine In 2015
For contravening various rules, including late remittance of funds under the Treasury Single Account guiding the Nigerian banking industry, eight banks last year paid a total fine of N3.323 billion.