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The Bank Statement is KPMG’s IFRS Banking Newsletter produced by the International Standards Group and IFRS banking specialists around the KPMG network.

The Ombudsman for Short Term insurance has ruled that an adventure resort's insurer is liable to indemnify it against a claim brought by one of its patrons.

On 15 November 2023, the Financial Sector Conduct Authority ("FSCA") and the Prudential Authority ("PA"), published the Joint Standard 1 of 2023: Information Technology Governance...

Telecom operators are evolving beyond connectivity into digital finance infrastructure, leveraging their existing assets like customer reach, SIM-linked identity, and distribution networks.

South Africans are under no illusion that the local economy is experiencing hardship. The Reserve Bank is continuously being forced to increase interest rates...

In his Medium-Term Budget Policy Statement, in October 2019, Finance Minister Mboweni warned that new tax measures may be announced.

In February this year SARS published a Draft Interpretation Note on the determination of taxable income of certain persons from international transactions covering intra-group loans.

Over the past few years, there has been a marked uptake in the trading of crypto assets, such as Bitcoin, Ethereum and Monero. These digital currencies often surpass regulatory scrutiny...

The recent judgment in Standard Bank v South African Reserve Bank addresses a long-standing debate in South African law: namely, whether cryptocurrencies constitute "capital" for purposes of Regulation 10(1)(c)...

It is often said that South Africa's financial sector is one of the most highly regulated in the world. This is certainly true if one has regard to the several ‘financial sector laws'...

The average person, when purchasing a property, will borrow money from a bank. When the loan is approved, the bank will instruct its attorney to attend to the registration of a bond over the property.

On 3 April, 2017, S&P Global led the way in downgrading South Africa's Sovereign Credit Rating to non-investment-grade ‘Junk' status.

Many banks and other financial services businesses and corporates have started preparing for life after the London Interbank Offered Rate ("LIBOR").

Africa in Focus explores a range of legal and regulatory developments shaping investment trends across Africa. In this first edition, we focus on a collection of topics connected by the themes of natural resources, geopolitics, regulatory reform and the rapid growth of digital markets.

*Coronavirus (COVID-19) regulatory measures...

Level 3 is undoubtedly introducing a few major changes across the country.

Everything from paying rent to paying for goods can now be done at the push of a button or the click of a mouse.