Recognizing that some communities have been disadvantaged by policies of the past, Ithala Development Finance Corporation Limited, “Ithala”, has decided to formulate its own Black Economic Empowerment Policy, with the intention of effectively and efficiently redressing the imbalances of the past. Proposed focus areas have been identified and developed to ensure that the implementation of this policy is both easy and measurable.
The “PFMA”, seeks to:
- Regulate financial management in the national government and provincial governments
- Ensure that all revenue, expenditure, assets and liabilities of those governments are managed efficiently and effectively
- Provide for the responsibilities of persons entrusted with financial management in those governments
- Provide for matters connected therewith
To view the PFMA in detail, please click on the link below to download the document:
The Financial Intelligence Centre Act, “FICA”, seeks to:
- Establish a Financial Intelligence Centre and a Money Laundering Advisory Council in order to combat money laundering activities
- Impose certain duties on institutions and other persons who might be used for money laundering purposes
- Amend the Prevention of Organised Crime Act, 1998, and the Promotion of Access to Information Act, 2000
- Provide for matters connected therewith
To view the complete FICA Act, please click on the link below to download the document:
To view the complete National Credit Act, please click on the link below to download the document:
To view the complete Language Policy in Terms of the National Credit Act (PDF), please click on the link below to download the document:
To view the complete Protection of Personal Information Act, please click on the link below to download the document:
The Financial Advisory and Intermediary Services Act, also known as FAIS, aims to regulate financial service providers (FSP’s) by protecting you against improper conduct by such FSP’s. The Act makes provision for FSP’s to be licenced and authorised through the Financial Services Board (FSB).
The FSB also regulates members of the industry in the way they provide advice, as well as related intermediary services such as processing your insurance claims, in terms of certain financial products as defined by the Act. Fit and proper requirements
The Act requires that competent and qualified persons render services and give advice (fit and proper requirements) so that you receive sound financial advice, services and products that best suit your individual needs. The products covered under FAIS include investments, insurance and deposits. Loans and credit agreements are not covered.
Complaints
If you are unsatisfied with advice given or service rendered in relation to a particular product, please refer your compliant to the Bank and we will attempt to resolve the issue internally. If however you remain unsatisfied, after all internal processes have been exhausted, the FAIS Ombudsman has been created by the FSB to handle all FAIS related complaints.
If you are unsatisfied with advice given or service rendered in relation to a particular product, please refer your compliant to the Bank and we will attempt to resolve the issue internally. If however you remain unsatisfied, after all internal processes have been exhausted, the FAIS Ombudsman has been created by the FSB to handle all FAIS related complaints.
To view the complete The Financial Advisory and Intermediary Services Act (PDF), please click on the link below to download the document:
To view the complete Ithala Development Finance Corporation (PDF), please click on the link below to download the document:
The Promotion of Access to Information Act seeks to:
- Give effect to the constitutional right of access to any information held by the State and any information that is held by another person and that is required for the exercise or protection
- Provide for matters connected therewith
To view the complete The Promotion of Access to Information Act (PDF), please click on the link below to download the document:
The Promotion of Access to Information Act (PDF)
Ithala Promotion of Access to Information Act Manual Act Manual (PDF)
The Code of Banking Practice (The Banking Code) deals with the various banks’ relationship with their customers in South Africa.
All banks which are members of the South African Banking Council are committed to maintain the standards of fairness set out in the Code.
The Code provides valuable safeguards for customers and helps individuals understand how banks are expected to deal with them. Copies of the Code are available from the member banks and from the Banking Council.
To view the complete Code Of Banking Practice (PDF), please click on the link below to download the document: