The Banking Association South Africa

News

Business Urges Economic Reforms

Johannesburg - Big business has called on President Cyril Ramaphosa to act urgently and implement short- and medium-term reforms and prioritise growth-enhancing policies to kickstart the economy.

SASBO Protest

Banks will be operating as usual on the day. However, in case of any unavoidable disruptions at branches, bank customers should as far as possible make use of digital banking services. Banks will be carefully monitoring the situation to ensure the safety of their customers and staff.

Banking Summit 2019 – Cas Coovadia

2019 will have its own share of challenges, which the sector will need to tackle with the inauguration of a new President and cabinet. We therefore recommend the topic for the 2019 Banking Summit to be along the lines “The Economy, Social Cohesion and the Banking Sector”.

Banking Summit 2019 – Tito Mboweni

Indeed, banks and the economy are inextricably linked. When banks lend, the economy grows; when the economy grows, banks lend. This can be a vicious cycle, in that growth in credit and economic growth can artificially feed off each other until there is a financial crisis.

Banking Summit 2019

Banks put backups in place as sector braces for shutdown

SA’s embattled economy is set to face collateral damage when finance union Sasbo embarks on a total shutdown of the banking sector later in September, but the industry says it has put plans in place to limit the damage.

Global Principles for Responsible Banking

The Banking Association South Africa (BASA) has officially endorsed the Principles for Responsible Banking, which set out the global banking industry’s role in helping to meet the objectives of the United Nations Sustainable Development Goals (SDGs) and the 2015 Paris Climate Agreement.

Unsustainable NCA Amendment Rushed

The Banking Association SA is concerned that certain sections of the proposed new legislation concerning lending and borrowing are poorly considered and badly crafted

Don’t Pin Your Hopes on Debt Relief

There’s no commencement date for the controversial legislation, and even if applications were open and you were found to be eligible for it, you won’t necessarily have your debts extinguished or even suspended.

NCA Amendment Act

The signing into law of the National Credit Amendment Act (NCA) by President Cyril Ramaphosa is of extreme concern to the banking industry and to low-income clients of banks. The Act, in its current form, will restrict ability of banks to lend to this vulnerable market and increase the cost of credit.