South Africa’s prudential regulator is bringing the fundamental review of the trading book back to life after Covid-19-related delays, with a firm go-live date for banks of January 1, 2024. Despite concerns that this could hammer local markets, banks remain upbeat.
Middle East and Africa
South Africa beds down bank resolution plans following slow progress
South Africa is catching up with its post-financial crisis obligations with a series of reforms that have been in the works for years as it learns from the experience of other jurisdictions.
Nigeria’s repo markets poised for rapid growth pending regulatory go-ahead
Nigeria’s repo market is sitting at an inflection point in terms of liquidity and development pending regulatory approval for the country’s pension funds and insurance companies to get more deeply involved.
Fintech could erode financial stability warns Bank of Ghana official
The proliferation of technology in financial services could erode gains made in areas such as financial stability, integrity and inclusion in many countries, warned a deputy governor at the Bank of Ghana.
Ghana sees compelling secondary benefits from green bonds
Apart from nudging firms towards more climate friendly activities, green bonds are also beneficial in that they promote better governance and reporting standards. By Justin Pugsley
Credit risk and operational resilience named as National Bank of Rwanda’s top supervisory priorities
Gaining more insight into the credit risk profiles, the capital strength and operational resilience of Rwanda’s banks are among the top supervisory priorities for the nation’s central bank, as the sector adapts to remote working to help curb the spread of the Covid-19 pandemic.
From Saad to Abraaj: governance and transparency in the Middle East
Some high profile collapses have prompted regulatory improvements in the Middle East, but there is still some work to be done around governance. By Christian Tuddenham, partner at Jenner & Block.
Dubai’s banks adapt to tougher economic and regulatory environment
Tougher economic conditions and more intrusive supervision is forcing banks in Dubai to consolidate to preserve margins and profitability
Dubai accepts seven fintechs to apply for innovation testing licence
The DFSA has given seven fintech firms the go ahead to apply for an innovation testing licence in Dubai to further develop their solutions.
Smaller UAE banks under regulatory pressure to merge
UAE market widely considered to be over-banked which is seeing regulators applying pressure on them to merge so as to help strengthen the financial system
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