South African Reserve Bank Readies Real-Time Gross Settlement Service

METHODS & REGULATIONS

INVESTEC Bank in Johannesburg and other major South African banks, are taking steps to link into a new gross settlement system being developed by the South African Reserve Bank (SARB).

Samos, an acronym for South African Multiple Option Settlement, is being developed by SARB to encourage real-time settlement as a standard practice for South African banks.

SARB wants to develop a regulatory environment in which all South African banks will either have to settle in real time or have cash on hand

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