03/18/2015
Bank Law Change Defended by South Africa Treasury Amid Criticism
The government says the law needs to be amended to facilitate African Bank’s restructuring and safeguard about 5,000 jobs
Regulation,Tax & Compliance
03/18/2015
South Africa: Hedge Funds Now Regulated As Collective Investment Schemes
The licensing requirements under the Financial Advisory and Intermediary Act relating to the hedge fund financial services providers who manage hedge fund portfolios remain unchanged.
03/16/2015
Tighter regulation for hedge funds
Hedge funds, which manage assets of more than R57 billion, mainly from retirement funds, will have to register as collective investment schemes by the end of March next year
03/15/2015
Somalia: The World Bank Increased compliance with regulatory standards to unlock investments
The IMF formally recognised the establishment of a federal government in Somalia in April 2013 as the country emerged from a long period of civil war.
03/13/2015
PAC wants offshore accounts holders exposed
The findings follow a massive cache of leaked data that revealed how the Swiss banking arm of HSBC, the world’s secondlargest bank, helped wealthy customers conceal billions of dollars of assets.
03/10/2015
South Africa govt says making "good progress" in African Bank's rescue
The bank is awaiting passage of amendments on a law granting the central bank super-senior creditor status, which would allow it to pump in some money into the failed lender.
03/10/2015
Banks to lose N558bn on MDAs’ fund transfer
The TSA policy translates to a significant decline in banks’ deposit, which is also expected to constrain banks’ ability to grow credit in the economy.
03/10/2015
Another Knock For Ecobank
Though not unexpected, the SEC’s report eventually set off series of internal infighting
03/08/2015
SADC central banks complete interconnection of ICT systems
The network of the banking technological information of the Southern African Development Community (SADC) member states is already interconnected
03/08/2015
Nigeria is Ecobank’s biggest operation – bank chief
Ecobank’s Group Chief Executive Officer Albert Essien says Nigeria is the bank’s biggest operation and that the current economic and currency headwinds in Nigeria have not affected his company immensely.
03/05/2015
Access Bank Extends N52.6bn Rights Issue by Two Weeks
Access Bank embarked on the capital raising via the right issue to raise N52.6 billion.
02/24/2015
IMF highlights role of Bank Al-Maghrib in Morocco
The International Monetary Fund (IMF) has welcomed Bank Al-Maghrib’s (BAM) efforts to strengthen Morocco’s financial supervisory and regulatory framework to ensure continued financial sector soundness
02/23/2015
Nigeria central bank sets guidelines for Islamic finance advisory body
Nigeria's central bank has issued guidelines for an advisory body that will oversee Islamic banking in the country
02/20/2015
Deutsche Bank Fined $857,000 in South Africa for Rules Breaches
The central bank, which also acts as the country’s bank supervisor, cited “deficiencies” in how Frankfurt-based Deutsche Bank identified and verified customer details, according to a statement on the South African Reserve Bank’s we
02/19/2015
Central Bank of Nigeria shuts down its official FX window due to volatility
The Apex Bank noted that the wide gap between the official and interbank value of the naira had engendered undesirable practices
02/19/2015
Nigeria: This Is What CBN Plans On Doing With Dormant Banks Account
Nigeria’s number one bank, Central Bank of Nigeria, has laid down a set of new guidelines for the treatment and management of dormant accounts by commercial banks.
02/16/2015
Andrew Canter unpacks the future of banking in SA and how it will affect you
In this country, Abil no doubt, has had an influence, too.
02/13/2015
Mauritius' KPMG tasked with restructuring BMIO, Seychelles Central Bank has announced
Work has started to implement the restructuring process of the Bank of Muscat International Offshore in Seychelles announced by the Central Bank of Seychelles in December last year.
02/12/2015
RBZ to clean up banking sector by June
THE Reserve Bank of Zimbabwe (RBZ) has set an ambitious target to have a financial services sector that has no distressed banks by the first half of this year
02/11/2015
South African institutions being eroded, Standard Bank says
Recent developments at the South African Revenue Service, which had been one of the government’s strongest institutions, are particularly concerning, Ballim told reporters in Johannesburg on Tuesday.