Regulatory Alerts2015-11-13
South African Reserve Bank Notice 1150 of 2015 Designating the International Finance Corporation
The South African Reserve Bank issued Notice 1150 of 2015 to formally designate the International Finance Corporation as an institution whose activities do not constitute banking business under the Banks Act of 1990. The notice authorizes the corporation to finance productive private enterprises and issue debt securities to institutional investors on regulated South African platforms while exempting it from standard commercial paper compliance. These privileges remain strictly conditional upon the institution refraining from soliciting public deposits, securing prior Registrar approval for public sales, adhering to comprehensive disclosure standards, and automatically expiring if its legal status materially changes.
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