Legal & Regulatory Environment News

Morocco: controlled flexibility of the dirham


 | Source: Financial Afrik

It’s not the revolution. The Moroccan currency, the dirham, will evolve from Monday 15 January on a range of fluctuation of ± 2,5% against ± 0,3%, said the spokesman of the government Mustapha El Khalfi at the end of the meeting of the Council of the government.

Nigeria: Financial Inclusion - CBN Sets Fresh Targets for Banks


 | Source: Vanguard; All Africa

Central Bank of Nigeria, CBN, has set state-by-state targets for the 21 commercial banks and 942 micro finance banks in the country to ensure that every Nigerian adult has access to financial services.

Angola's Depleting FX Reserves Led to Currency Easing - Central Bank


 | Source: Namibian; All Africa

Angola's depleting foreign exchange reserves prompted the central bank to ease currency controls, the regulator said on Thursday, a day after plans were unveiled to restructure foreign debt and allow looser trading of the kwanza.

Kenya: Central Bank of Kenya Gives Lenders Time to Adopt New Accounting Rule


 | Source: The EastAfrican ; All Africa

Kenyan banks have been spared the aftershocks of new provisions for bad debts that come into effect with the New Year, ensuring riskier small borrowers and households can continue accessing credit.

Kenyan Banks May Turn to Shareholders to Comply With IFRS 9


 | Source: The EastAfrican; All Africa

Four top Kenyan banks will have to increase their loan loss provisions by Ksh36 billion ($360 million) under the new accounting regulations, which take effect in a week's time.

Zimbabwe: Zim Central Bank Warns Against Use of Bitcoin


 | Source:; All Africa

The Reserve Bank of Zimbabwe (RBZ) on Thursday warned the public against the use of virtual currencies such as Bitcoin because of the risks involved.

Tanzania: Central Bank urged to take actions for better currency management by commercial banks


 | Source: Ecofin Agency

The Tanzanian President, John Magufuli, instructed the Central Bank of the country to take actions against the failing banks and strengthen control on foreign exchange movements in order to protect the local currency (Tanzanian Shilling).

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.

Nigeria: Portfolio Managers Task SEC, NSE On Investors' Protection


 | Source: Vanguard; All Africa

The Association of Investment Advisers and Portfolio Managers, IAMP, have called on the regulatory agencies in the capital market to be more proactive in investigating reported cases of infraction among market operators in order to safeguard investors' interest.

Tanzania: Radical Changes Loom in Insurance Industry


 | Source: The Citizen; All Africa

The Tanzania Insurance Regulatory Authority (Tira) yesterday issued a new circular detailing sweeping changes in the insurance business in the country.

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