GOVERNMENT and REGULATORY STAKEHOLDERS
The South African banking sector is highly regulated and ranked 6th most stable sector in the World Economic 2013/2014 Global Competitive
Report. Engagement with regulators is critical to maintaining such
stability, as well as to continue refining the environment for
sustainable business. The banking industry is the "oil that lubricates the economy" and it is thus critical for us to continually engage government.
Consistent and robust engagement with government enables The Banking Association South Africa to be proactive in considering legislative changes and influencing such changes. It also enables us to work with government to achieve a fine balance between sound and appropriate regulation and sustainable business operations. In this way, the industry performs its role of a good corporate citizen.
The regulatory institutions legislate and monitor how our members conduct their business in line with international standards and as such all engagement strives to ensure that we are continually appraised on the latest changes in international policy.