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LequteMan
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Nigeria- The International Monetary Fund, IMF, in a report has warned Pan African banks on the risks of expansion. The report lauded the banks, saying they've become more important than the continent's long-established European and American banks.
Excerpt from VoiceOfNigeria:
The International Monetary Fund (IMF) said Thursday that the expansion of pan-African banks has posed some regulatory challenges that, if not addressed, may increase spillover risks.
IMF said in its report that expansion of cross-border banking in Africa in recent years is benefiting financial development but supervision is constrained in some countries.
As these groups develop in reach and complexity, significant supervision gaps, governance issues, and questions about cross- border resolution have emerged," the report said.
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#Nigeria #VON #IMF
Excerpt from VoiceOfNigeria:
The International Monetary Fund (IMF) said Thursday that the expansion of pan-African banks has posed some regulatory challenges that, if not addressed, may increase spillover risks.
IMF said in its report that expansion of cross-border banking in Africa in recent years is benefiting financial development but supervision is constrained in some countries.
As these groups develop in reach and complexity, significant supervision gaps, governance issues, and questions about cross- border resolution have emerged," the report said.
click here to read more
#Nigeria #VON #IMF
