Tag: Banks Act
SARB payment regulation drafts – future or fix?
In meeting its policy commitments and addressing regulatory challenges posed by the rising prominence of non-bank payment operations, the South African Reserve Bank (SARB) published two draft documents in the first quarter of 2025. In their policy document, colloquially referred to as Vision 2025, the SARB presents its vision for modernising South Africa’s National Payment System (NPS).
Financial deregulation necessary to spur economic growth
No new business can prosper without access to start-up capital, and the regulatory environment must not stand in the way of this process. In other words, South Africa’s economic future is not served by do-gooder statutory restrictions on financing. As such, significant amendments should be made to the National Credit Act, as well as the Banks Act, to ease pressure on small businesses that seek to finance their growth.
Developments in the regulation of open finance
The Intergovernmental Fintech Working Group (IFWG) has published a new blog on Open Finance, noting that South African regulatory authorities have started looking at open finance as it relates to their respective mandates.
