The South African Reserve Bank (SARB) and the Financial Sector Conduct Authority (FSCA), in consultation with the Payments Association of South Africa (PASA), would like to issue a warning to consumers to be aware of the risks associated with the use of instant electronic funds transfer (EFT) online payment services offered at e‑commerce stores (i.e. stores which facilitate the purchase and sale of goods and/or services via the Internet).
National Treasury, the South African Reserve Bank (SARB) and the Financial Sector Conduct Authority (FSCA) intend to review Exchange Control Circular 15/2020 issued by the SARB, following the announcement by the Minister of Finance in the Medium Term Budget Policy Statement (MTBPS) Speech on 28 October 2020.
The South African Reserve Bank (SARB), Financial Sector Conduct Authority (FSCA), Payments Association of South Africa (PASA) and the Banking Association South Africa (BASA) are jointly communicating to the public that the issuing and the acceptance/collection of cheques will cease, effective from 31 December 2020.
This presentation provides an overview of the main considerations and recommendations made by the following works streams constituted under the Market Practitioners Group (MPG):
This notice provides detail of the US dollar equivalent of the level of the South African Reserve Bank’s (SARB) official gold and foreign exchange reserves, Special Drawing Rights (SDRs) and foreign currency deposits received from customers published today in the SARB’s Statement of Assets and Liabilities as at 31 October 2020.
In 2018, the Prudential Authority (PA) embarked on a process to complete its first money laundering and financing of terrorism (ML/FT) risk assessment work, in respect of the banking and life insurance sectors.
Monthly Release of Selected Data