09/05/2016
Kenya: The Time Is Right for Banks to Embrace Corporate Governance
Financially secure and well-managed banking has a direct financial impact on banking citizens, not to mention an increase in foreign investment.
Regulation,Tax & Compliance
09/02/2016
Get your trusts in order now
Fiduciary expert warns of renewed focus to stop tax leakage.
09/02/2016
Kenyan lawmakers reject proposal to raise bank capital requirements -paper
Privately owned Daily Nation said that lawmakers voted by acclamation to approve changes to the Finance Bill 2016 made by the Finance, Planning and Trade Committee.
09/02/2016
CBK threatens bank CEOs with jail if they don’t cut lending rates in 14 days
Njoroge warns in the circular dated August 31, 2016 that lenders that charge borrowers more than the stipulated interest rates will be fined Sh1 million or their bank chief executives imprisoned for one year.
08/31/2016
Apex bank issues licence to new International Money Transfer operators
Okoroafor said that the licensing was in furtherance of efforts to liberalise the Foreign Exchange Market, ensure liquidity and make foreign exchange more readily available to low-end users.
08/30/2016
Net 1 CEO Says Doesn’t Care About South African Court Challenge
In May, the South African Social Security Agency, which oversees the payment of welfare grants to more than 16 million people
08/29/2016
Kenya’s cap on interest rates could impact EAC monetary Union
Under the East African Community Monetary Union Protocol, the member states committed themselves to pursue a free market economy with a floating exchange rate.
08/29/2016
CBN may fine banks
The regulator may want to make the fines painful to them, as a deterrent to others.
08/29/2016
Banks likely to exploit flaws in new rates law
Banks have over the years disregarded legal measures instituted to cap interest rates, posing a real danger to the newly-passed Banking (Amendment) Bill, 2015.
08/29/2016
Bank of Ghana to establish deposits protection system
BOG stands committed to ensuring that a stable environment for banking with a level playing field is provided at all times.
08/26/2016
Zuma says backs finance minister but can’t stop investigation
The minister of finance is today almost facing what could be arrest.
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.
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.