The Bank of Mauritius (the Bank) is pleased to announce that it has, granted Banking Licences to two new banks – Warwyck Private Bank Ltd and Banque Richemount Limited – to carry on private banking business in Mauritius. Warwyck Private Bank Ltd and Banque Richemount Limited are the first stand-alone, full-fledged private banks to be
The Central Bank of Nigeria (CBN) has announced banks have until November 30 to meet specified payment card security specifications, as the bank looks to combat card fraud in Nigeria’s financial system. The move will safeguard personal and account information conveyed in processing card payments. In a circular entitled “Circular on timeline for PCIDSS certification
International Banker held its annual awards for acknowledging the top banking institutions across the Middle East and Africa. The Co-operative Bank of Kenya received awards in two categories: Innovation in Retail Banking and Best CEO Africa. The International Banker magazine offers a global view of banking and brings in-depth analysis on the people and innovations
Guaranty Trust Bank plc has announced the launch of its new loyalty scheme exclusively for GTBank credit card holders. The loyalty scheme is in partnership with Avios, the leading global travel rewards company. This initiative is part of GTBank’s overall strategy to bring the best in card products to its customers. It will reward international
CRDB Bank is planning to have its international operations contribute between 3-5 per cent of the net income as one of the bank’s target position by the year 2017. The bank’s profit for the year under review jumped to 84.4bn/- compared to 80.5bn/- registered in the previous year despite the increment of expenses due to
Exim Bank Tanzania Limited has embarked on implementing its Vision 2016 that seeks to double its balance sheet and increase market share in deposits by 2016. Being the sixth largest bank in the country in terms of total deposits and assets, Exim Bank has set its eyes on an ambitious target for the year 2016.
The South African Reserve Bank (SARB) conducted AML/CFT (Anti-money laundering and combating the financing of terrorism) inspections at Absa Bank Limited (Absa), FirstRand Bank Limited (FirstRand), Nedbank Limited (Nedbank), and The Standard Bank of South Africa Limited (Standard Bank). In terms of the Financial Intelligence Centre Act, No. 38 of 2001 (FICA), the SARB is
FICO, a leading predictive analytics and decision management software company, has announced that First National Bank (FNB), is the first bank in the country to use FICO Fraud Resolution Manager to communicate with customers when a potentially fraudulent transaction takes place. Using the FICO application, FNB can automatically contact a customer through voice calls and
Regional financial services provider Equity Bank Group has returned to its traditional growth path by recording a 21% growth in its first quarter performance amidst a challenging operating environment. Emerging from a depressed operating economic environment as well as challenges posed by the recent political skirmishes in South Sudan, Equity Bank pre-tax profits for the
The South African Reserve Bank has taken a closer look at whether South Africa’s have the right administration controls in place to effectively fight money laundering and combat the financing of terrorism. These controls are laid down in the Financial Intelligence Centre Act, No. 38 of 2001, better known as FICA. While a number of
