The MoU provides a framework for the JFSC and the SARB to exchange confidential information and co-operate with each other regarding the supervision and regulation of banking entities under their authority.
John Harris, director general of the JFSC said, “A number of South African banks already have a presence in Jersey and this Memorandum will assist the Commission and the South African Reserve Bank to maintain close co-operation and dialogue with each other. Such collaboration should help to protect depositors and promote the integrity of financial services markets in Jersey and South Africa.”
