Tuesday, May 15, 2018

Towards the creation of State Banks: From rhetoric to practice!

Towards the creation of State Banks: From rhetoric to practice

Floyd Shivambu

On 25 April 2018, the South African State gazetted a notice which officially commences a process that seeks to amend the Banks Act. The Government Gazette Number 211 of 2018 aptly illustrates that, “The Banks Act, 1990 (Act No. 94 of 1990) (‘Banks Act’), among other things, imposes certain requirements which an institution must comply with before it may carry on the business of a bank or in the lawful carrying on of the business of a bank.

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