Media release: COVID-19 relief measures for customers

Media release: COVID-19 relief measures for customers

South African banks have moved quickly to implement wide-ranging debt-relief measures to, wherever possible, assist customers who are experiencing financial difficulties due to the COVID-19 pandemic and national lockdown.

However, the Banking Associate of South Africa (BASA) strongly encourage all customers to continue to meet their banking and financial services obligations as best they can. This will help banks assist as many customers in need as possible and is important for the safety and soundness of the financial sector and the economy at large. Their efforts to help customers must not trigger a financial crisis and banks are working with the regulators to ensure the continued stability of the financial system.

To read more about the relief measures that the banking sector are offering to consumers please visit the BASA website.

Media release: Life insurers have the reserve buffers to withstand COVID-19 fallout

Media release: Life insurers have the reserve buffers to withstand COVID-19 fallout

The South African life insurance industry has more than double the legally required  reserve buffers in place and is therefore well positioned to deal with the COVID-19 fallout over the coming months. The Association for Savings and Investment South Africa (ASISA) today released the new long-term insurance statistics gathered from ASISA members in line with the new regulatory reporting requirements introduced by the Insurance Act of 2018.

Read more