South Africa’s central bank has warned of risks to the country’s financial stability, due to capital outflows and the possibility of sanctions following a U.S. diplomat’s accusation of supplying weapons to Russia to aid its campaign in Ukraine. These risks, along with the threat of a grid failure due to repeated power cuts and persistent…
Banking, Compliance, MEA, Regulatory, Sanctions
NEWS: South Africa’s financial stability at risk over Russia sanctions breaches fallout and FATF ‘greylisting’ – warning

WORRIES: South Africa's central bank has warned that systemic risk to the country's financial stability has remained elevated, notably due to the government's increasing debt levels and debt-servicing costs, as well as the impact of being put on a "grey list". Our file photo shows a bank teller look at South African rand note.