Fusion Bank promises SMEs a "hassle-free" account opening experience and a six month exemption on fees for new accounts.
March 23, 2023Foreign shareholders can own up to 25% of a virtual bank. A BOT waiver raises this to a 49% limit. Three licences will be granted next year.
January 17, 2023ZA Bank will offer a “hassle-free service to users, without worrying about any foreign exchange markup, hidden charges and transfer progress."
November 24, 2022The syndicate members processed the funds through more than 20 online bank accounts since 2021, police said.
May 17, 2022A fresh review of the Banking Code of Practice has been launched, covering information disclosure, customers’ finance management, and dispute handling.
April 20, 2022The new regulatory guidelines will require digital banks to hold the same levels of capital as conventional banks.
April 12, 2022The FSS is set to conduct 779 regular or occasional inspections on financial firms throughout this year.
April 7, 2022The BOT has issued guidelines on how firms should charge interest, service fees and penalties for financial products and services.
April 6, 2022The BOT will publish a virtual bank licensing framework by Q2 2022, and directions on its open banking policy in Q3 2022.
March 30, 2022The BOT will introduce virtual bank licences, relax fintech investment limits for banks, promote open data, and establish TCFD aligned disclosure standards.
February 7, 2022