04/08/2015
Bashir says Saudi Arabia lifted restrictions on banking with Sudan
The bank admitted that for its Sudanese clients, it set up elaborate payment structures
Regulation,Tax & Compliance
04/06/2015
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
04/06/2015
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.
03/31/2015
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
03/31/2015
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.
03/29/2015
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.
03/27/2015
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.
03/25/2015
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.
03/24/2015
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
03/23/2015
Namibia, Zim tops curbing money laundering
Namibia and Zimbabwe are the only two African countries to be removed from the international targeted review process of countries with shortcomings in their National Anti-Money Laundering and Combatting the Financing of Terrorism regulatory environment.
03/20/2015
Tunisia Asks to Join HSBC Case to Get Embezzled Ben Ali Cash
Tunisia asked to join the Geneva prosecutor’s money-laundering case into HSBC Holdings Plc’s Swiss unit as a plaintiff in a bid to get back funds it says were embezzled by former dictator Zine El Abidine Ben Ali.
03/19/2015
African Development Bank Group Executive Directors On Impact Mission to Mozambique
A delegation of African Development Bank Group Executive Directors is preparing to travel to Mozambique to assess the impact of Bank projects in the country
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
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