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What the Decision in Kingdom Bank Limited v Alice Wanja (2024) means for Commercial Banks

The High Court recently directed a local bank to reimburse a client who erroneously transferred funds to an account held with it. This decision will have far reaching implications on the duty of care borne by banks and payment service providers.

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Angola: Banks’ Recovery Plan

By way of Order 1/24, of 21 February 2024, the Angolan Central Bank (BNA) has issued guidelines for the “Recovery Plans” to be submitted by financial institutions (banks) under the Financial Institutions Law. This article gives an outline of the Order.

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Mauritius: Conservatorship in banking, 17 February 2024 – Bowmans [Financial services]

The Bank of Mauritius has placed Silver Bank Ltd under conservatorship in accordance with Section 65 of the Banking Act. The last time that a bank was put under conservatorship in Mauritius was BanyanTree Bank Ltd in 2020. Of note, the conservatorship of BanyanTree Bank L..

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