The Banking Association South Africa

News

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.

Credit Bill Means People Might Escape Repaying Their Debt, Banking Group Warn

Banks will either have to price in higher risks or avoid lending to low-income customers altogether, the Banking Association SA says.

Kganyago Re-appointed as Governor SARB

The announcement of the re-appointment of Lesetja Kganyago as Governor of the South African Reserve Bank (SARB) is clear commitment by the government to the independence of the South African Reserve Bank, responsible monetary policy and a stable financial system and currency.

The Fifth CYFI Summit

The Fifth Child and Youth Finance International Summit – to be held under the banner of “Economic Citizenship and Employment: A Future for All” – is being hosted in Johannesburg, from 19 to 20 June 2019.

RAMAPHOSA ANNOUNCES SMALLER CABINET

The announcement of a smaller cabinet and performance agreements for the new ministers is an important commitment by President Cyril Ramaphosa to a much needed streamlined, efficient and accountable public service.

Passwords, Malware and Why Banks Aren’t the Bad Guys

South African Banking Risk Information Centre CEO Kalyani Pillay maintains that South African banks do a great job of servicing and protecting their customers and that much of the security risks that come with banking are worsened by a lack of consumer education.