MTB Policy Statement 2022

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SABRIC ANNUAL CRIME STATS 21

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FIC Recovers R5B Criminal Assets

The Financial Intelligence Centre’s (FIC’s) focus on providing and deriving value from its partnerships and collaborative efforts has seen its financial intelligence assisting in the recovery of more than R5 billion in criminal assets during the 2021/22 financial year (click here to access the annual report).

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Transformation Report 2022

Banks continued to meet many of the empowerment and transformation targets set in the Financial Sector Code (FSC), despite the severe economic contraction of -6,4% experienced in 2020, which reduced opportunities for job creation and inclusive economic growth.

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Ubank Under Curatorship

On 16 May 2022 the Minister of Finance, in consultation with the Prudential Authority (PA),  placed Ubank Limited (Ubank) under curatorship with immediate effect. This was done to help protect Ubank’s customers and the financial services sector while the bank finds a potential investor to restore its capital position to an acceptable level as required by the PA.  

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The National Budget 2022

The Minister of Finance, Enoch Godongwana, has made good use of South Africa’s tax windfall by committing to reducing debt while providing necessary social support to the country’s most vulnerable.

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Renewable Energy Initiative

South African banks are in principle ready to finance, on appropriate terms, independent power producers who make use of a proposal that Eskom-owned land in Mpumalanga be leased to renewable energy developers.

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FSL AMENDMENT BILL [B15B-2020]

While reviewing the FSLAB we have unfortunately picked up what we consider to be a drafting oversight that was not immediately obvious. We do not believe that this issue means that the legislator differs from a substantive point of view and instead consider the issue to be relatively easily rectifiable.

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Sustainable Finance Conference 2021

The association is hosting the Sustainable Finance Conference 2021 to highlight the role of the financial services industry in supporting sustainable development in South Africa. The conference will focus on sustainable social and environmental development, as well as the outcomes of the 2021 United Nations Climate Change Conference (COP26).

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Financial Relief July 2021 Unrest

In the wake of the July 2021 unrest in KwaZulu-Natal and Gauteng, which damaged banks and other businesses and economic infrastructure, banks granted financial relief worth R246,7 million on 15 009 credit agreements as of 09 October 2021. 

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