Managers of Wealth Africa

African Bank-Inspired Law Change Approved, Boosting Rescue Plan

South African lawmakers approved changes to rules covering distressed lenders

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

Belvedere update: Mauritius FSC suspends Belvedere’s management licence

Cites failure to comply with the law

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.

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.

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

Kenya: Bancassurance Draft Rules Now At Treasury

The regulations will, among other issues, address complaints by insurance agents

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

Sabric joines East as national member for South Africa

The South Africa Banking Risk Information Centre has just joined the European ATM Security Team as the National Member for South Africa.

Expert rejects BoG's 15-year term limit for bank MDs

Banks and their shareholders should rather be made to take decisions on the tenure of their managing directors and board of directors and not the Bank of Ghana.

‘Improve supervision to check scandals in banking sector’

Speaking at the launch of the International Finance Corporation’s Corporate Governance Programme in Accra, he advised banks to imbibe sound corporate governance practices to promote discipline and check malfeasance.

Bashir says Saudi Arabia lifted restrictions on banking with Sudan

The bank admitted that for its Sudanese clients, it set up elaborate payment structures

Mauritius shuts bank: PM says evidence of Ponzi scheme

Mauritius’s future as on offshore financial centre is under threat after the island state’s Prime Minister Anerood Jugnauth announced its central bank has uncovered evidence of a Ponzi scheme

Umbrella fund rebuild ‘taking too long’

The Pension Funds Adjudicator has asked the Registrar of Pension Funds to set timelines for a fund that has been rebuilding its member records since 2010.

Banks comply with directive on cash deposits

Banking fees and charges are cited as one of the reasons why some Namibians do not have bank accounts

UK fund house caught up in Mauritian ‘Ponzi scheme' probe

A UK fund house has been forced to freeze redemptions on one of its funds, after becoming caught up in an investigation by the Mauritian regulator into an alleged Ponzi scheme.

For Banks, Another Opportunity for Higher Capital Adequacy

The latest effort of the Central Bank of Nigeria to insulate the nation’s banking industry from capital inadequacy became one of the major economic and business issues in the public place last week.

Botswana Cuts Bank Reserve Requirement to 5% for Liquidity Boost

The Bank of Botswana cut the reserve requirement ratio for lenders, in a move it said would release 2.3 billion pula ($235 million) of liquidity into the southern African country’s banking system.

African Bank’s Debt Holders Divided Over Changes to Legislation

The new company would then be able to obtain a banking license and start operating afresh.

CAR: CBN Extends Deadline for Systemically Important Banks

The eight financial institutions designated as SIBs by the central bank were required to hold more liquid assets

Regulation,Tax & Compliance