Zambia’s Fundanga: region to upgrade regulation
Legislation and regulatory tools in Eastern and Southern Africa are not adequate to effectively address the potential risks to the financial sector from cross-border banking groups, said Caleb Fundanga, the governor of the Bank of Zambia.
Fundanga said the region and the world economy saw financial organisations adopt more flexible structures by establishing a wide range of subsidiaries and affiliates that are engaged in business lines different from the core business of the parent institution
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