Banking Association Concerns Over Withdrawals

The Banking Association South Africa (BASA) has expressed concern over the sudden withdrawal of certain NCA draft amendments, arguing that regulatory uncertainty is bad for business. Specifically, they point to the impact on Micro, Small, and Medium Enterprises (MSMEs), which rely on clear credit regulations to access funding.

BASA urges the government to expedite the consultation process and provide a clear roadmap for future amendments to ensure stability in the financial sector.

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