Essay Banking and Financial System
Introduction page 3
I) Executive Summary. page 4
II) The Financial System: page 4
A) The Banking System page 5
B) The Financial Market page 7
III) The Legal Side: page 7
A) Legal Framework page 7
B) Regulatory Oversight page 8
IV) Depository-Taking Institutions. page 9
V) Banking Issues and Challenges Prospect. page 10
Conclusion page 12
Sources page 12
Annexes page 13
For years ago, South Africa has been facing a lot of racial, political and …show more content…
The South African rand (ZAR) is the most actively traded emerging market currency in the world. The rand has since recovered, trading at 7.34 ZAR to the dollar as of November 2009.
To conclude, the main international trading partners are Germany, the United States, China, Japan, the United Kingdom and Spain.
I). Executive Summary:
According to the World Economic Forum and its 2010 World Competitiveness Report published last week, South Africa has the fifth best financial system in the world. For that, the country had to go along with a financial mutation in 1994 and the election of Nelson Mandela as president. Since this year, banking and financial businesses have admitted the necessity of “playing the game” and are very attentive about government’s preoccupations’. The financial and especially the banking world, which is influenced by the Anglo-Saxon way, are controlled by a central bank. This last, works closely with the government and seems very satisfied with the set in order of public finances. In addition to that, the monetary and tax discipline (very strict); is done in an overall good quality atmosphere.
The deep stability of the financial system vis-à-vis the irregulars movements of the “Rand” associated with the