Legal Framework News

South Africa: Regulations to Improve Customer Treatment in Insurance Sector


 | Source: ; All Africa

National Treasury and the Financial Services Board (FSB) have published regulations to improve customer experience in the insurance services sector.

Sudan: Banks to Freeze Assets of Currency Dealers


 | Source: Radio Dabanga; All Africa

The Central Bank of Sudan ordered banks to freeze the assets of dozens of Sudanese people and companies. The State Security Prosecution charged them for trading currencies, against the Central Bank's instructions.

Uganda: Guidelines to Allow Banks Sell Insurance Out Soon


 | Source: The Monitor; All Africa

Regulations that allow commercial banks to sell insurance products - Bancassurance - will be out this month, Insurance Regulatory Authority (IRA) has said.

Nigeria: CBN Floods Forex Market With $457 Million


 | Source: Leadership: All Africa

A statement from the apex bank showed that both the spot and forwards segments of the market received a boost, with $267.3 million while the wholesale segment got $100 million.

Rwanda: Govt Looking to Scale Up Financial Inclusion Next Fiscal Year - Officials


 | Source: The New Times: All Africa

Officials from the ministry said that most of their efforts in the upcoming financial year will be geared towards promoting financial inclusion to increase the number of the banked population in the country.

South Africa: High Bank Charges Force Immigrants to Send Money Home 'Hand-to-Hand'


 | Source: GroundUp: All Africa

A new survey by Cape Town-based refugee rights advocacy group The Scalabrini Centre has found that the high cost of sending money has kept migrants from using formal remittance systems.

Ugandan banks face higher capital requirements


The minimum capital requirement will be raised to 10 per cent of risk-weighted assets.

Making Finance Work for Africa Convenes African Central Banks to Discuss “Macro-prudential Surveillance"


Senior officials from African central banks gathered in Algiers to kick off training seminar on "Macro-prudential Surveillance"

South Africa investigates seven banks for FX price fixing


These are BNP Paribas, Citigroup, Barclays, JP Morgan, Investec, Standard Bank and Standard Chartered.

EU rejects calls for UN tax body to improve the global financial system


It said that the OECD is better suited to stop illicit financial flows.

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