Middle East and AfricaRSS
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Mauritius aims to become a leading African financial hub

Through a unique combination of trade agreements, Mauritius is positioning itself as a conduit for international investment into Africa while pivoting its regulatory regime towards becoming more attractive to institutional funds.

SA-reserve-bank

South African banks brace for FRTB

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. 

Deon Raju

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.

Nigerian notes

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. 

Ghana cedi note

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 cedi

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

BLM-National Bank of Rwanda 231127182

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.

Christian Tuddenham

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

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.