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/ 11 September 2007

Co-op Banks Bill passed by National Assembly

Legislation providing for formal regulation and supervision of cooperative banks was adopted by the National Assembly on Tuesday. Introducing debate on the Cooperative Banks Bill, Finance Minister Trevor Manuel said it seeks to create an appropriate regulatory framework for member-based deposit-taking, financial services cooperatives.

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/ 5 September 2007

Banking group goes after SACP

The Banking Association of South Africa is trying to have money it accidentally paid to a lobby group led by South African Communist Party head Blade Nzimande returned. The managing director of the Banking Association of South Africa, Cas Coovadia, confirmed that the industry body had accidentally paid its quarterly fees of R360 000 in June last year to the Financial Sector Campaign Coalition.