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Pan African Payment and Settlement System Launch: a new dawn for cross border financial transactions in Africa

On 13th January 2022, the Pan African Payment and Settlement System (PAPSS) platform was launched by the Africa Export-Import Bank (Afreximbank), in collaboration with African Union (AU) and African Continental Free..

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Clyde & Co.

Financial Institutions in Tanzania have the right to claim outstanding loan balances from borrowers after mortgaged properties sale

The Tanzanian Court of Appeal has put forward a judgement in relation to the right of financial institutions to claim the outstanding loan balance from borrowers after sale of the mortgaged properties. We take a closer look at this sc..

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AXIS and BLC Robert

The FSC issues the Financial Services (Robotic and Artificial Intelligence Enabled Advisory Services) Rules 2021

The Financial Services Commission, Mauritius (the “FSC”) is issuing the Financial
Services (Robotic and Artificial Intelligence Enabled Advisory Services) Rules 2021 (the
“Rules”) in line with the objectives of providing a conducive..

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Cliffe Dekker Hofmeyr

An analysis of the new amendments to the Retirement Benefits Act

The Retirement Benefits Act 3 of 1997 (Retirement Benefits Act) is an act that establishes the retirement benefits authority and provides for the rules and guidelines that employers should comply with and employees should be aware of, with ..

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Dentons Hamilton Harrison & Mathews

The Central Bank of Kenya's guidance on climate-related risk management: A critical step towards building business resilience

The Central Bank of Kenya (CBK) recently published Guidance on Climate-Related Risk Management (the Guidance) for the banking sector and mortgage finance companies.

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Clyde & Co.

Bank of Tanzania: New outsourcing guidelines for banks and financial institutions in Tanzania

In this month’s legal update, we provide an overview of the new Bank of Tanzania Outsourcing Guidelines for Banks and Financial Institutions, 2021 (the Guidelines) which were published on 17 June 2021. The Guidelines apply to all outsourcin..

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Venture Law

Crowdfunding : A New Legal Environment

The Financial Services (Crowdfunding) Rules 2021 (the ‘Rules’) came into operation on 4 September 2021 bringing a long-awaited legal framework to crowdfunding platforms in Mauritius. The Rules confirm the expected leap forward of the Maurit..

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Clyde & Co.

The development of Islamic banking in Tanzania

It has recently been reported about the first Sukuk bonds that were issued in Tanzania by Imaan Finance Limited. Sukuk are financial certificates which represent an undivided share in the ownership of tangible assets which are not..

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N. Dowuona & Company

Ghana's New Insurance Act, 2021 (Act 1061)

Parliament recently passed the Insurance Act, 2021 (Act 1061) to replace the Insurance Act, 2006 (Act 724) and to provide for the regulation and supervision of the insurance market. Act 1061 creates three main..

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