Regulatory
Uganda Grants First Islamic Banking License, Boosting Financial Sector
The Deputy Governor of the Bank of Uganda, Michael Atingi-Ego, has issued the inaugural Islamic banking license to Salaam Bank Limited. Atingi-Ego presented ...
Nigeria
Nigeria: CBN Directs Banks to Preserve FX Revaluation Gains, Reinforce Capital Reserves
In a significant move, the Central Bank of Nigeria (CBN) has issued a directive to commercial banks, instructing them to refrain from utilizing ...
Regulatory
Global: G20 Nations Push for Swift Adoption of Global Cryptocurrency Regulations
Leaders of the G20 nations are urging the rapid implementation of global cryptocurrency regulations, aiming to facilitate cross-border information exchange among countries starting ...
Nigeria
Nigerian Customs Service Engages Banks Over Duty Remittance Issues
The Nigerian Customs Service (NCS) announced on Sunday (September 10, 2023) that it recently deactivated two banks due to their failure to remit ...
Regulatory
Global: HSBC Implements Restrictions on Commercial Payments to and from Russia and Belarus
HSBC, a global banking powerhouse with operations spanning more than 65 countries, including the UAE, has announced its decision to limit commercial payment ...
Nigeria
Nigeria: NCC States N120bn USSD Debt Hampers Financial Inclusion
The Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, has emphasized that the outstanding N120 billion Unstructured Supplementary Service Data ...
Nigeria
Nigeria: PenCom Raises Concerns Over Uncredited Pension Contributions, Threatens Penalties for Noncompliant Employers
The National Pension Commission (PenCom) has expressed growing concerns about the increasing number of uncredited pension contributions meant for employees’ retirement savings accounts ...
Nigeria
Nigerian Communications Commission Warns Telemarketers of Prosecution for Unauthorized Subscriber Data Use
The Nigerian Communications Commission (NCC) has issued a stern warning that it will pursue legal action against telemarketers engaged in the illegal acquisition ...
Regulatory
Global Regulators Unveil Plan to Regulate Decentralized Finance (DeFi)
On Thursday (September 8, 2023), global securities regulators revealed their initial framework aimed at holding participants in the world of “decentralized finance” (DeFi) ...
Regulatory
Global: IMF and FSB Issue Joint Policy Recommendations for Crypto Assets at G20 Request
The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have jointly released a policy paper that includes recommendations for regulating activities ...
