BASA WELCOME STATE OF THE NATION ADDRESS 2019

The Banking Association South Africa welcomes the State of the Nation Address as a firm statement of intent on South Africa’s national priorities and policy direction

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GROUND-BREAKING GUIDE LAUNCHED IN SOUTH AFRICA TO EMPOWER BANKS TO ASSESS NATURAL CAPITAL RISK

Natural Capital Finance Alliance (NCFA) has showcased the world’s first step-by-step guide to help banks conduct a rapid natural capital risk assessment. The guide is produced in collaboration with global audit firm PricewaterhouseCoopers.

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MINISTRY OF PUBLIC ENTERPRISES MEETING BASA BOARD AND ASISA REPRESENTATIVES

Ministry of Public Enterprises Meeting BASA Board and ASISA Representatives about the operational performance of and financing requirements for State-Owned Companies (SOC’s).

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GROSS DOMESTIC PRODUCT – THIRD QUARTER 2018

Real gross domestic product (measured by production) increased by 2,2% in the third quarter of 2018, following a decrease of 0,4% in the second quarter of 2018.

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STATEMENT OF THE MONETARY POLICY COMMITTEE

Since the previous meeting of the Monetary Policy Committee (MPC), the near-term inflation outlook has improved, however, the longer term risks to the inflation outlook remain elevated. The weaker exchange rate and the impact of higher oil prices have contributed to increasing inflation since March 2018. At the same time, domestic growth remains weak.

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WE URGE EXPEDITE CRISP, CLEAR EXPROPRIATION POLICY AND LEGISLATIVE FRAMEWORKS

The Banking Association South Africa (BASA) acknowledges the decision of the Constitutional Review Committee to recommend that Section 25 of the constitution – the property rights clause – be amended to explicitly provide for the expropriation of land without compensation.

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VBS MUTUAL BANK MEMBERSHIP SUSPENDED

The Banking Association South Africa (BASA) has suspended the membership of VBS Mutual Bank, pending the outcome of the investigations and legal processes related to the conduct of the bank.

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BANKING ON GOOD GOVERNANCE

Learners of a number of schools in Alexandra attended the Banking Summit hosted by the Banking Association South Africa at the Wanderers Club on 8 October.

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THE BANKING ASSOCATION HOST THE INTERNATIONAL BANKING FEDERATION BOARD MEETING

The Banking Association South Africa (BASA), hosted a board meeting of the International Banking Federation (IBFed), in Johannesburg on October 25 and 26.

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FINANCE MINISTER’S MTBPS GETS 2 OUT OF 3

Ahead of the Medium Term Budget Policy Statement (MTBPS), the Banking Association South Africa indicated the new Minister of Finance, Tito Mboweni, would have to find ways to: Alleviate poverty and reduce the economic burden of vulnerable South Africans Provide a credible commitment to maintaining fiscal discipline, and Outline a quickly implementable economic-stimulus package.

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