08/26/2016
Nigerian banks are being barred from forex trading as a dollar crunch worsens
This was to instill more accountability in monitoring government revenue and to eliminate opacity in government.
Regulation,Tax & Compliance
08/25/2016
Kenya to cap interest rates on bank loans
The Kenya Bankers Association criticised the “arbitrary” move and analysts described it as “populist” and “retrograde”.
08/25/2016
Kenya Banks Reel as President Signs Law Capping Interest Charges
Cooperative Bank Ltd. plummeted the most on record, while Equity Group Holdings Ltd., the market leader in terms of value, fell to the lowest in 16 months.
08/25/2016
Banks brace themselves for minimum capital requirement review
Decision will protect depositors and improve performance
08/24/2016
Nigeria central bank suspends nine banks from FX market, sources say
Olojo said the bank was working with the central bank to resolve the issue.
08/22/2016
SA bank fees are not high – Tshabalala
This was in response to complaints – recently endorsed by David Lipton, deputy managing director of the International Monetary Fund – that the country’s big four banks were too dominant and fees were inflated because of the lack of compe
08/19/2016
New proposed trust legislation: Hit or miss?
Suggested amendments seem to have missed Davis Tax Committee’s goals.
08/18/2016
Nigeria central bank says Skye Bank safe, no need for panic withdrawals
After replacing Skye's executives last month, depositors rushed to withdraw their funds.
08/17/2016
Stanbic Bank expects Zambia to seal an IMF deal by December
In a note to investors shortly after President Edgar Lungu’s re-election, the bank said with the PF win, most of the groundwork has already been laid.
08/17/2016
Sanlam fined N$15m by competition regulator
“This conduct is specifically prohibited in terms of Section 23 of the Competition Act,” he stated.
08/15/2016
Money Transfer Fears For Nigeria's Economy
The country’s $20bn in annual remittances set to take a hit after central bank revoke the licenses of all but three money transfer companies
08/15/2016
Kenya: Munya Cautions Counties On Slow Remittance of Workers' Pension Deductions
The Meru County boss said it was important to safeguard workers' future especially in retirement.
08/12/2016
Lenders want new law for Islamic financing
Islamic banking has key differences from conventional banks
08/12/2016
Banks must evolve or risk irrelevance
The expert points out in recent years have also seen a host of new market entrants.
08/12/2016
MFB, ICD in services deal
To establish a new Islamic Bank in Nigeria
08/12/2016
State urged to draft separate rules for Islamic banking
“Even Uganda is coming up with a different Act to govern Islamic banking and that’s the way to go.”
08/12/2016
More regulation could actually improve financial inclusion in Africa
This allowed third-party entities, based in places as varied as supermarkets, gas stations and post offices, to act as agents for the banks.
08/11/2016
Accountants ask President Uhuru Kenyatta to pass rates law as banks make token cut
Commercial banks, which collectively booked Sh38 billion in pre-tax profits between January and March alone, are all members of the 46-member lobby group.
08/10/2016
Nigeria to allow banks to write-off some bad loans this year
Commercial banks asked the central bank to amend its rule requiring them to keep non-performing loans on their books for one year even after they have been fully provided for.
08/10/2016
China mulls venture into Rwanda's banking sector
FOCAC was created in 2000 to, among other things, cement Sino-African relations by establishing sustainable trade deals, political and cultural exchanges.