* Credit Suisse Group AG CEO Tidjane Thiam said he will not leave the Swiss lender to run for president in his native Côte d'Ivoire, the Financial Times reported.
GULF COOPERATION COUNCIL
* Invest Bank PSC
* Al-Ahli Takaful Co.
* Wafa Insurance Inc.
* The Saudi Arabian Monetary Authority issued a final warning to Al Rajhi Co. for Cooperative Insurance
* Capital Intelligence Ratings affirmed Saudi Arabia-based National Commercial Bank's ratings and assigned negative outlooks to the lender's long-term foreign-currency and financial strength ratings.
* Al Baraka Banking Group BSC
* CI Ratings affirmed Bahrain-based Al Baraka Islamic Bank BSC's BB financial strength rating. The outlook is negative.
REST OF MIDDLE EAST AND NORTH AFRICA
* Israel-based online trading platform operator Plus500 Ltd.
* Christophe Buso replaced Mohamed Elalamy as director general of Morocco's Saham Assurance SA, Financial Afrik wrote. Buso previously worked at French insurer Groupama Group.
* Egypt secured a $1 billion financing from the International Islamic Trade Finance Corp. to support the country's provision of basic goods to citizens, Reuters reported, citing Egypt's investment ministry. The amount is part of a larger $3 billion agreement with ITFC.
EAST AND WEST AFRICA
* The Central Bank of Nigeria debited Standard Chartered PLC and Citigroup Inc. 2.4 billion naira and 1.2 billion naira, respectively, in fines for allegedly assisting South African telecommunications firm MTN Group Ltd. in transferring funds abroad, insiders told Reuters. Standard Bank Group Ltd. unit Stanbic IBTC Bank Plc
* Maurice Phido, former CEO of Union Bank of Nigeria PLC
CENTRAL AND SOUTHERN AFRICA
* South African financial services firm FirstRand Ltd.
* South African insurer Sanlam Ltd. reported normalized headline earnings of 4.92 billion rand for the first half, up from 4.48 billion rand a year earlier. The company also posted headline earnings of 5.13 billion rand, up from 4.57 billion rand during the first half of 2017.
* Japan's Tokio Marine Holdings Inc. is reportedly set to enter the African insurance market by acquiring 22.5% stakes in South Africa-based insurers Hollard Holdings (Pty) Ltd
* Moody's said it now projects that South Africa's economy will expand 0.7% to 1% in 2018, compared to its earlier estimate of 1.5%, following reports that the nation entered a recession in the second quarter, Bloomberg News noted. South African President Cyril Ramaphosa recently made assurances that the country will recover from recession soon, saying its current economic setbacks were temporary, Reuters reported, citing Eyewitness News.
* A World Bank study of transactional and fixed deposits identified shortcomings in South African retail banks' treatment of customers, citing overly complicated banking products, unfair charging of bank fees and inappropriate disclosure of terms and conditions, Mail & Guardian reported.
* South African financial technology startup Yoco Technologies (Pty) Ltd. raised $16 million in a private funding round with investors, Reuters reported.
* South African private equity firm Harith General Partners Pty Ltd. will invest in a fiber-optic cable network in Malawi in a deal that will make it the majority shareholder in fiber network provider Open Connect Ltd., Bloomberg reported, citing Harith Director Emile Du Toit.
* A new bank called Banco Mais SA has launched operations in Angola and is opening its first branch today, O País reported.
* Banque Marocaine du Commerce Extérieur SA
IN OTHER PARTS OF THE WORLD
Asia-Pacific: Tokio Marine in South African deal; Chinese i-bank moves closer to Hong Kong IPO
Europe: Deutsche may have stalled illicit Danske money; Commerzbank falls out of DAX
Latin America: Akaan Lombard to buy Principal Mexico's life business
North America: AmEx's forex payments unit under FBI, OCC probe; Citi overhauls investment bank
Global Insurance: 'Huge potential' for ILS at AIG; quake hits Japan; DOJ to OK healthcare deals
Deza Mones, Henni Abdelghani, Sophie Davies and Helen Popper contributed to this report.
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