South Africa’s only fully fledged Islamic bank, Al Baraka, sanctioned by regulator

Albaraka Bank faces R1.6 million ($99,150) in penalties from South Africa’s Prudential Authority over cash reporting, suspicious transactions and compliance failures.

Feyisayo Ajayi September 12, 2026

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South African Reserve Bank fines Michiel Le Roux’s Capitec Bank $1.74 million

South Africa’s central bank fined Capitec R28 million ($1.74 million) for customer due diligence, employee training and anti-money laundering control failures.

Feyisayo Ajayi September 12, 2026