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Article: Buffeting winds of change. (South African banking system)
- Article from:
- African Business
- Article date:
- October 1, 1994
- Author:
CopyrightCOPYRIGHT 1994 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The South African banking system is one of the most developed in the world, as Mushtak Parker points out, the times are now changing. The question is, can the banks adapt quickly enough to the new environment?
These are challenging times for the South African banking sector. Faced with a country in political transition, South African financial institutions, normally very conservative, nurtured and erstwhile sheltered apartheiders, are having to adjust both their ethos and operations to a far more radical agenda. This is a situation which many of the major banks find clearly unpalatable and which even the monetary authority, the Reserve Bank of South Africa (the ...