* Investec Group, which is listed in London as Investec Plc and in South Africa as Investec Ltd., is looking to sell its Irish unit, with Allied Irish Banks Plc among a number of possible buyers, the Irish Independent reported. A sale process is reportedly underway for the deal, which is partly prompted by Britain's exit from the European Union as the Irish arm has been operating as a subsidiary of Investec Plc.
* The Australian Federal Police has identified Wall Street Exchange, a Dubai-based foreign exchange and money transfer company, as one of the currency exchanges being used as a hub for a global money-laundering operation run by Altaf Khanani to siphon large amounts of money out of Australia, ABC News Online reported. Khanani is currently in jail in Florida.
MIDDLE EAST AND NORTH AFRICA
* Saudi Arabia's Capital Market Authority gave First Abu Dhabi Investment Saudi Co. authorization to conduct arranging and advising activities in the securities business. The approval came after First Abu Dhabi Bank PJSC, said last week that it was working on expanding its operations in Saudi Arabia, Reuters noted.
* Abu Dhabi Commercial Bank PJSC said it has received in-principle approval from the Financial Services Regulatory Authority to establish a wholly owned subsidiary in the Abu Dhabi Global Markets.
* Noor Bank PJSC CEO John Iossifidis said the Emirati lender is considering the sale of Islamic bonds, according to Bloomberg News.
* EFG-Hermes Holding SAE intends to increase the number of its investment bankers in Saudi Arabia as part of the company's expansion plans, The National wrote. The Egypt-based firm is also looking to increase its exposure to frontier markets.
* S&P Global Ratings affirmed Israel's A+/A-1 long- and short-term foreign- and local-currency sovereign credit ratings, with a positive outlook.
* Tel Aviv Stock Exchange CEO Ittai Ben-Zeev said a deal to sell a controlling stake in the bourse to an undisclosed overseas exchange is expected to be in place by April, Reuters wrote.
* Bank of Palestine Plc's board proposed a cash dividend of 13.5% of paid-up capital for 2017, Reuters reported.
* S&P Global Ratings affirmed Kuwait's AA/A-1+ long- and short-term foreign- and local-currency sovereign credit ratings, with a stable outlook.
* Kuwait and Middle East Financial Investment Co. has applied for a market player license and has formally submitted a request to the Capital Market Authority, Alrai Media reported.
* The Central Bank of Kuwait is working on regulating Islamic banking in the country as Islamic banks in Kuwait are said to be not showing full commitment to regulations related to Shariah, Al-Qabas reported.
* Export Development Bank of Iran CEO Ali Salehabadi said Iran plans to set up a joint bank to promote ties with Latin America, and is in negotiations with Latin American countries to potentially turn the Iran-Venezuela Bi-National Bank into the Iran-Latin America Bank, the Financial Tribune reported.
* Oman-based Dhofar Insurance Co. (SAOG) said that it has received a letter from the Capital Market Authority withdrawing its decision to suspend some activities of the company due to a deficit in its solvency margin. The company is allowed to continue its licensed activities by the CMA.
* The rate at which the Central Bank of Tunisia refinances banks hit a historic high of 12.4 billion dinars last week, as banks suffer from low liquidity and are unable to meet demand for foreign currency to pay for imports, Il Boursa reported.
* Several private Algerian insurance firms, including Alliance Assurances, have accused the government of systematically making regulation which is more favorable to public sector insurance companies, El Watan reported.
EAST AND WEST AFRICA
* Data from Ghana's central bank showed that the value of mobile money transactions nearly doubled to 155.8 billion Ghanaian cedis in 2017, compared to 78.5 billion cedis in 2016, amid a growth in the use of mobile phones for banking in Ghana, Bloomberg News reported.
* Bank of Uganda Governor Emmanuel Tumusiime-Mutebile said the central bank is set to publish Islamic banking regulations soon, Reuters wrote.
* BitPesa Ltd. CEO Elizabeth Rossiello said the Kenya-based payments firm plans to commence operations in South Africa in the second quarter, according to ITWeb, adding that the company has had informal talks with the South African Reserve Bank through its lawyers and banking partners.
* Linkage Assurance Plc appointed Chief Benard Fumudoh as board chairman, effective from Jan. 31, ThisDay reported. Fumudoh replaces John Anderson Eseimokumoh, who resigned.
* Cape Verde's central bank has started considering a bank license application from Macau businessman David Chow, news website Macauhub reported, citing a report in the Africa Monitor Intelligence newsletter. The newsletter said his plans for Banco Sino-Atlântico, which would be established with Chinese capital, are viewed dimly by Portuguese-owned lenders that dominate the local banking industry.
* Meanwhile, Cape Verde's government is preparing to reform legislation governing payment systems, seeking to bring the country's regulations in line with international standards, according to government spokesman Fernando Elísio Freire, Expresso Das Ilhas reported. He said the reform is aimed at increasing financial inclusion, filling gaps in existing legislation and allowing the creation of entities dedicated solely to payment processing.
CENTRAL AND SOUTHERN AFRICA
* Capitec Bank Holdings Ltd. described conclusions of a recent Viceroy Research report as "fundamentally flawed and misleading." In a detailed response to the issues raised in the said report, the lender confirmed that its loan book reconciles and denied any misrepresentation of it.
* The South African Reserve Bank confirmed that it plans to unveil a new financial technology unit that could potentially focus on the development of new fintech policies, including cryptocurrencies and digital financial services, in South Africa, according to BusinessTech.
* African Phoenix Investments Ltd. named Siyabonga Nhlumayo CEO, South Africa's Business Day reported.
* S&P Global Ratings affirmed the Democratic Republic of the Congo's CCC+/C long- and short-term foreign- and local-currency sovereign credit ratings, with a stable outlook.
* Mauritian Prime Minister Pravind Kumar Jugnauth has denied his country is a tax haven, saying "those who accuse us of being a tax haven have no proof," Jeune Afrique reported. Jugnauth also said Mauritius will not ratify new rules proposed by Rwanda's Paul Kagame to finance the African Union through a 0.1% import tax.
IN OTHER PARTS OF THE WORLD
Asia-Pacific: Great Eastern in Malaysian M&A talks; Macquarie ups FY'18 profit guidance
Europe: Deutsche's Postbank lawsuit drags on; Allianz bets on Sri Lanka
Latin America: 2 Bradesco execs face charges; bankruptcy filings in Brazil down 26.1% YOY
North America: Fed sanctions Wells Fargo; JPMorgan clients air concerns over healthcare venture
North America Insurance: States eyeing insurance mandates; some insurers worried about new health venture
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.
Sheryl Obejera, Henni Abdelghani, Pádraig Belton and Helen Popper contributed to this report.
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