* Moody's said its negative outlook for the African banking sector in 2018 reflects high macroeconomic risks in a majority of the region's countries that expose banks to asset quality pressures, sovereign credit risk and reduced government support.
MIDDLE EAST AND NORTH AFRICA
* Nine international banks including Bank of America Merrill Lynch, Barclays and Deutsche Bank are underwriting Qatar National Bank (QPSC)'s new $3 billion loan, the first significant syndicated loan for a Qatari borrower since the economic boycott imposed on Qatar, Reuters reported. The loan is expected to be syndicated to more banks.
* Qatar Investment Authority, London Stock Exchange Group Plc's second-largest shareholder, is supporting LSE Chairman Donald Brydon, who is facing calls from activist shareholder TCI Fund Management Ltd. to be removed, an insider told Reuters.
* The Central Bank of Bahrain unveiled new rules expanding the categories of locally domiciled mutual funds to include exchange-traded funds as another type of collective investment undertakings, according to a Gulf Daily News report carried by Thomson Reuters' Zawya.
* Saudi Arabia is in talks with consultants to set up an entity that will manage the assets relinquished by billionaires and princes detained in the country's corruption crackdown, insiders told Bloomberg News.
* Saudi Arabia's Shoura Council approved a draft bankruptcy law, which is aimed at regulating the country's insolvency procedures, Saudi Gazette reported.
* Saudi Arabia's Capital Market Authority fined Metlife - AIG - ANB Cooperative Insurance Co. 100,000 riyals for failing to secure general assembly approval to renew a Marine Cargo Open Cover policy in the name of Arab National Bank, which is a related party, Argaam wrote.
* Separately, the CMA approved AlNefaie Investment Group's request to register and list units of Al Nefaie-Umm Alqura REIT Fund on the Saudi Stock Exchange, Argaam noted.
* Bank Leumi le-Israel BM
* The IMF said Sudan must float its currency to spur economic growth and investment, a move that the government has opposed even after the U.S. lifted decades-old economic sanctions against the country in October, Reuters reported.
* Dubai-based investment firm Amanat Holdings PJSC
* Mashreqbank PSC
* Tamkeen Leasing, a subsidiary of InvestBank, acquired 92% of Bindar Trading & Investment Co. Plc, worth 20 million Jordanian dinars, Al Ghad reported.
* Moody's affirmed the B3 local-currency long-term deposit ratings of state-owned lenders National Bank of Egypt (SAE), Banque Misr - SAE and Banque du Caire SAE and upgraded their respective stand-alone baseline credit assessments to "b3" from "caa1." The agency also affirmed the B2 local-currency long-term deposit rating of Bank of Alexandria SAE and the B3 local-currency long-term deposit rating of Commercial International Bank (Egypt) SAE, as well as their "b3" baseline credit assessments.
* The volume of Islamic finances in Egypt has reached 222 billion pounds, accounting for 6% of the banking sector's total market share, Amwal Al Ghad wrote, citing Egyptian Islamic Finance Association Chairman Mohamed Al-Beltagy.
* Meanwhile, foreign investment in Egyptian securities has reached $19 billion as of Dec. 6 since the flotation of the pound in November 2016, Amwal Al Ghad wrote, citing Finance Minister Amr El Garhy.
* Algeria's central bank has issued banks with instructions regarding the country's interbank foreign exchange market, which becomes operational Jan. 2, 2018, El Watan said.
* Capital Intelligence lowered the long-term foreign-currency ratings of Arab Tunisian Bank,
* Tunisia has adopted its 2018 Law on Finances, which includes a 1% rise in value-added tax, as well as a 25% to 35% increase in taxes on car dealers and supermarkets, Jeune Afrique reported. El Watan also covered.
EAST AND WEST AFRICA
* Shareholders of Access Bank (Ghana) Plc
* Allianz Ghana named Darlington Munhuwani new CEO, effective Dec. 1, to replace Patrick Prado, who will take on the newly created role of Allianz Ghana Life Insurance CEO. Munhuwani previously served as Aon Plc's regional director and controller for its global and multinational clients.
* Ecobank Transnational Inc.
* Meanwhile, Ecobank Rwanda Ltd.
* IMF head Christine Lagarde confirmed during a visit to Benin that the fund believes Benin's economy is growing at an increased rate of 5.6% in 2017, up from 4% in 2016, and forecast to hit 6% in 2018, Financial Afrik said. Agence Ecofin also covered.
* Meanwhile, the IMF approved a three-year loan of around $170 million to Guinea under its Extended Credit Facility. Under the program, the country will be allowed $650 million in nonconcessional borrowing that will help it increase spending on infrastructure projects, Reuters wrote, citing Guinean Finance Minister Maladho Kaba.
* Edoh Amenounve, head of the BRVM stock exchange, announced his bourse would expand to include listings from mining companies, Financial Afrik reported.
CENTRAL AND SOUTHERN AFRICA
* Mauritius' central bank appointed Yandraduth Googoolye its new governor, Reuters reported. Googoolye, who has served as the central bank's first deputy governor since July 2006, replaces Ramesh Basant Roi, whose three-year term ends this month.
* Portugal's Caixa Geral de Depósitos SA and Banco BPI SA have increased their stakes in Mozambique's Banco Comercial e de Investimento SA following the exit of Insitec Capital SA, Jornal de Negocios and O País reported. CGD's stake in BCI is now 61.5%, up from 51% previously, while BPI's share rose to 35.67% from 30%.
* Angolan authorities detected about 130 cases of suspected money laundering this year, most of them related to the siphoning off of public funds, according to Ricardo João, an official at the Financial Information Unit, Novo Jornal reported. Tightening controls over money laundering and terrorism financing are crucial to efforts by the government and central bank to restore confidence in the local financial system.
* Moody's affirmed Rawbank SA's long-term local-currency deposit rating at B3 and foreign-currency deposit rating at Caa1, and changed the outlook on the ratings to negative from stable.
* The African Export-Import Bank
IN OTHER PARTS OF THE WORLD
Asia-Pacific: Australia, Canada ink fintech deal; Far Eastern International Bank fined
Europe: Zurich buying ANZ's life insurance biz; Spain sells 7% stake in Bankia
Latin America: Proposed bankruptcy law to give Brazil banks more power; S&P cuts Colombia
North America: TriCo Bancshares to buy FNB Bancorp for $315.3M; Clayton urges caution on ICOs
North America Insurance: House GOP urges individual mandate repeal in tax bill; Enstar may buy Novae book
Sheryl Obejera, Henni Abdelghani, Pádraig Belton, and Helen Popper contributed to this report.
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