Tag: Financial Regulation
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Ato Essien Emerges in Public: First Appearance Since Jail Release Raises Questions About Capital Bank’s Fallout
First Public Appearance Sparks Questions About Capital Bank’s Collapse William Ato Essien, the founder of the now-defunct Capital Bank, has appeared in public for the first time since reports of his jail release began circulating. The event, described by multiple sources as his initial post-incarceration appearance, Reuters-style coverage, and local Ghanaian media, comes after a…
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Court Rejects Urgent Bid by Entrépo Finance Over Payroll Deductions System
Overview of the Ruling A district court has rejected an urgent bid from microfinance lender Entrépo Finance seeking a court order compelling the minister of finance, Ericah Shafudah, to testify under oath about how the government plans to implement a fully functional payroll deductions management system. The decision narrows the scope of the dispute to…
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Namibia Among Africa’s Top Five for Combating Money Laundering and Financial Crime Risk
Namibia Ranked Among Africa’s Top Five in Fighting Money Laundering Namibia has been highlighted as one of the leading countries in Africa for tackling money laundering and related financial crime risks. The latest assessments place Namibia firmly in the top five on the continent, reflecting meaningful improvements in how the country detects, prevents, and responds…
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World Blinded to Risks in Booming $250tn Shadow Banking Market
Executives, Regulators, and the Growing Shadow The shadow banking system, a sprawling network of non-bank actors that provide credit, liquidity, and funding outside traditional banking channels, has grown to an estimated $250 trillion in assets. Yet top financial watchdogs acknowledge that the sector operates largely in the shadows, with data gaps that hinder timely risk…
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Non-Interest Banking Rules Could Spark Ghana Regulatory Confusion
Overview: The Bank of Ghana’s Non-Interest Banking Guidelines Ghana’s central bank, the Bank of Ghana (BoG), is rounding out its framework for regulating what it calls “Non-Interest Banking.” The move aims to formalize Sharia-compliant financial services and other forms of interest-free banking that some customers prefer for religious or ethical reasons. While the intent is…
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Non-Interest Banking in Ghana: Could The Bank of Ghana’s Framework Spark Regulatory Confusion?
Introduction: Aiming for clarity in a niche sector The Bank of Ghana’s draft guidelines for regulating non-interest banking—often associated with Islamic finance—have drawn sharp commentary from policy experts. Bright Simons, Vice President of policy think tank IMANI Africa, argues that the proposed framework could inadvertently create regulatory confusion, potentially undermining the sector’s stability and consumer…
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CBN Issues Warning Over Unlicensed Microfinance Bank Zuldal
Overview of the CBN Warning The Central Bank of Nigeria (CBN) has publicly disowned Zuldal Microfinance Bank Limited, labeling it an unlicensed entity operating illegally within Nigeria’s financial system. In a statement disseminated on X, the acting Director of Corporate Communications, Hakama Sidi, reaffirmed that Zuldal Microfinance Bank Limited is not authorized to conduct banking…
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CBN Warns Against Unlicensed Microfinance Bank Zuldal
CBN Issues Public Warning About Unlicensed Microfinance Bank Zuldal The Central Bank of Nigeria (CBN) has disowned Zuldal Microfinance Bank Limited, labeling it an unlicensed entity operating illegally within the country. In a statement circulated publicly, the Acting Director of Corporate Communications, Hakama Sidi, underscored the regulator’s resolve to protect the financial system and Nigerian…
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Illicit Crypto-to-Cash Deals in Canada: A Growing Challenge for Financial Regulation
Introduction: A new frontier for money laundering in Canada The convergence of cryptocurrency and cash exchanges is creating a troubling loophole for money launderers in Canada. Investigations and industry reports indicate that certain crypto exchange companies have offered to purchase thousands of dollars worth of digital currencies without proper registration or identity verification. While legitimate…
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Five Key Takeaways From the Draft Crypto Market Structure Bill Release
Overview: A Draft Path for Crypto Market Structure The Senate Agriculture Committee has released a draft of its portion of a broader crypto market structure bill, a milestone in shaping how digital assets are traded, regulated, and protected for both institutions and retail investors. While details are still evolving, the draft signals a deliberate push…