Banking in South Africa: Difference between revisions
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'''Banking in South Africa''' is centred on the [[South African Reserve Bank]] (SARB), |
'''Banking in South Africa''' is centred on the [[South African Reserve Bank]] (SARB), which is the monetary authority and controls gold and foreign exchange reserves.<ref>{{cite web |title=South Africa - Banking |url=http://countrystudies.us/south-africa/70.htm |website=countrystudies.us |access-date=12 January 2021}}</ref> |
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==Legislation and regulatory authorities== |
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* Banks Act, 1990. |
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* Financial Sector Regulation Act, 2017. Prudential Authority within SARB. |
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* Financial Intelligence Centre Act, 2001 and Financial Intelligence Centre. |
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* [[Financial Sector Conduct Authority]] (FSCA). Financial Advisory and Intermediary Services Act, 2002 (FAIS). |
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* National Credit Regulator (NCR) National Credit Act, 2005 (NCA). |
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* Information Regulator and Protection of Personal Information Act, 2013 (POPI).<ref>{{cite web |title=Banking regulation in South Africa: overview |url=https://uk.practicallaw.thomsonreuters.com/w-007-6934?transitionType=Default&contextData=(sc.Default)&firstPage=true |website=signon.thomsonreuters.com |publisher=Thomson Reuters |access-date=12 January 2021}}</ref> |
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==Commercial banking== |
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Commercial banking in the country is dominated by the "big five" banks: [[Standard Bank]], [[FirstRand]], [[Absa Bank Limited|Absa]], [[Nedbank]], and [[Investec]]. {{As of|March 2020}}, they control nearly 90% of the sector's total assets.<ref>{{cite news |title=South Africa's banking sector is dominated by 5 names – who control almost 90% of all assets |url=https://businesstech.co.za/news/banking/416057/south-africas-banking-sector-is-dominated-by-5-names-who-control-almost-90-of-all-assets/ |access-date=12 January 2021 |publisher=BusinessTech |date=19 July 2020}}</ref> |
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==References== |
==References== |
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{{reflist}} |
{{reflist}} |
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{{South Africa topics}} |
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==Possible sources (remove before moving to mainspace)== |
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{{Africa topic|prefix=Banking in}} |
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[[Category:Banking in South Africa]] |
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{{bank-stub}} |
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Latest revision as of 04:13, 4 May 2023
Banking in South Africa is centred on the South African Reserve Bank (SARB), which is the monetary authority and controls gold and foreign exchange reserves.[1]
Legislation and regulatory authorities
[edit]- Banks Act, 1990.
- Financial Sector Regulation Act, 2017. Prudential Authority within SARB.
- Financial Intelligence Centre Act, 2001 and Financial Intelligence Centre.
- Financial Sector Conduct Authority (FSCA). Financial Advisory and Intermediary Services Act, 2002 (FAIS).
- National Credit Regulator (NCR) National Credit Act, 2005 (NCA).
- Information Regulator and Protection of Personal Information Act, 2013 (POPI).[2]
Commercial banking
[edit]Commercial banking in the country is dominated by the "big five" banks: Standard Bank, FirstRand, Absa, Nedbank, and Investec. As of March 2020[update], they control nearly 90% of the sector's total assets.[3]
References
[edit]- ^ "South Africa - Banking". countrystudies.us. Retrieved 12 January 2021.
- ^ "Banking regulation in South Africa: overview". signon.thomsonreuters.com. Thomson Reuters. Retrieved 12 January 2021.
- ^ "South Africa's banking sector is dominated by 5 names – who control almost 90% of all assets". BusinessTech. 19 July 2020. Retrieved 12 January 2021.
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