Managers of Wealth Africa

South Africa: Flexibility for banks on suspicious deals

These comments were made by FIC director Murray Michell in the 2013-14 FIC annual report tabled in Parliament last week.

Clifford Chance advises on the Republic of South Africa's inaugural USD500m sukuk issuance

A sovereign issuance of this kind paves the way for future Islamic financings in South Africa, opening the Islamic financial markets to other governmental entities, financial institutions and corporate entities who are seeking new sources of funding in th

AMCON Asks Court to Restrain Babalakin from Dissipating Assets

But AMCON in its notice for injunction pending appeal filed by its lawyer, Babatunde Ogungbamila, from law firm of Olisa Agbakoba (SAN) said the application became necessary in order to preserve the assets in dispute.

Ghana’s CHRAJ boss under massive attack

Pressure continues to mount on embattled chairperson of the Commission on Human Rights and Administrative Justice, Lauretta Lamptey, to resign her post.

Regulators Probe Goldman's Internship for Brother of Libyan Ex-Official

SEC Is Examining Whether Perks Were Offered in a Bid for Business

Wragge Lawrence Graham & Co appoints partner in Dubai office

He is a general structured finance lawyer with a specialism in project finance.

South Africa: Client Takes Liable Nedbank Heads-On

Nedbank have acted unlawfully and were complicit

Nigerian bank falls victim to $40 million insider cyber-heist

The gang were in the process of withdrawing the cash when the heist was rumbled.

CFTC Fines South African Bank Over Prearranged Trades

The CFTC order finds that on several occasions, from June 2009 to August 2011, FirstRand and another foreign-based company entered into prearranged noncompetitive trades

High Court Freezes Nigerian Tycoon's Bank Accounts Over $32 Million Loan

The bank instituted two separate suits

Business leader in fraud appraisal

The group was voted in the top 30 companies in Africa in the 2010 Africa-Legatum Awards.

Nigeria Business Fraud Rocks Skye Bank

Skye Bank Plc is facing one of the toughest fraud cases of all time; a whopping N7billion suit preferred against it by one of its clients, Jorotom International Agency Nigeria Limited, National Enquirer reports.

The Privy Council Interprets Key Provisions of Mauritian Anti-Money Laundering Legislation - Appleby

Two issues arose before the Privy Council. First, the meaning of “lawful business activities” under section 5(2)(d) of the FIAMLA. Secondly, who had the onus of proving the application of the exemptions under section 5(2) of the FIAMLA.

Conyers advises Africa International Capital Ltd. on initial offering and listing on the BSX

Kieran Loughran and Veronica Strande of Conyers’ London office advised on the matter, working alongside listing sponsor Cohort Limited.

KENYA: Islamic bank pushes for regulation review

This is because sharia compliant banking prohibits earning interest on money, hence Murabaha is the loan facility for Islamic banking.

Standard Bank denies reckless lending to reverse mortgage scheme firm

Reverse mortgage schemes have already been found to be fraudulent by the High Court in Bloemfontein.

Goldman To Face Libya's Sovereign Wealth Fund In Court Over Trades

Goldman had filed a summary judgment application – a request to decide a claim without going to trial

Toyota bond falls victim to African Bank

Automobile dealer delayed a R1.5 billion bond sale 'until further notice'.

Shares’ fraud: NSE indicts 29 stockbroking firms, four others

The Nigerian Stock Exchange (NSE) has investigated and indicted 29 stockbroking firms and four stockbrokers for alleged unauthorised sale of their clients’ shares.

Baker & McKenzie bolsters Jo'burg with competition bolt-on

The hire comes two years after Baker & McKenzie launched in South Africa

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