News Archive - Page 22 of 35 - The Banking Association South Africa

News

SOUTH AFRICAN FARM LAND VALUE

Land prices in South Africa have broadly remained stable, despite some sharp declines in areas that were hit hardest by prolonged drought conditions, including districts in the Western Cape and North West province, as well as for lifestyle and game farms.

VBS MUTUAL BANK FORENSIC INVESTIGATION REPORT

The Banking Association South Africa (BASA) fully endorses the recommendations of the forensic investigation report into the affairs of VBS Mutual Bank (VBS), which says that the culprits behind the fraud and corruption that led to the collapse of the bank must face civil and criminal charges.

TITO MBOWENI APPOINTED AS MINISTER OF FINANCE

The association worked closely with him during his tenure as Governor of the South African Reserve Bank (SARB). We are confident that he has the skills and experience to manage the fiscus and help the economy to recover, in these challenging times.

PRESIDENT RAMAPHOSA ANNOUNCES ECONOMIC RECOVERY AND STIMULUS PACKAGE

The president has put his stamp on this economic stimulus package. We hope he will ensure that those charged with delivering on his promises are held to account. Business, consumer and investor confidence cannot afford more disappointment brought on by empty promises.

STATEMENT OF THE MONETARY POLICY COMMITTEE

Since the previous meeting of the Monetary Policy Committee (MPC), risks to the inflation outlook have continued to materialise and the inflation outlook has deteriorated in response to both domestic and external developments.

LAND REFORM AND BANKS AMENDMENTS

Banks continue to provide loans to commercial farmers, despite the uncertainty about land reform and possible amendments to Section 25 of the constitution. However, to be effective and sustainable, any solutions, including a possible amendment to the constitution, must provide for …

BANKING ON THE ARTIFICIAL INTELLIGENCE REVOLUTION

According to a Citi GPS report on the Bank of the Future released this year, globally banks are the biggest investors outside the tech space in artificial intelligence (AI).

NATIONAL CREDIT AMENDMENT BILL

Over-indebtedness is a serious economic and social challenge in South Africa. The Banking Association South Africa (BASA) supports debt intervention to assist low-income consumers whose circumstance have changed for the worse, through no fault of their own, and when formal debt-counselling processes provide inadequate relief.

BANKS SPEAK OUT ON LAND EXPROPRIATION

SA’s commercial banks have been surprisingly mute about the expropriation without compensation debate. But as the Land Bank makes clear, any ham-fisted government policy risks causing a series of dominoes to topple that could have disastrous consequences for the lenders. Here’s what experts in and around the banking sector are thinking about land ...

FICA AMENDMENTS IMPACT SOUTH AFRICAN ACCOUNTABLE INSTITUTIONS

The most recent FICA Amendments, most of the provisions of which came into effect on 2 October 2017, have occasioned some misgivings within the various affected industries (referred to as ‘Accountable Institutions’). Many of these reservations are based on a lack of appreciation of FICA’s international provenance.