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NATIONAL PAYMENT SYSTEM: INPUT SOUGHT ON DISCUSSION DOCUMENT, DRAFT DIRECTIVES
- 17 March 2025
- Financial Sector
- SA Legal Academy
Please note: In November 2025, the SARB released a revised draft authorisation framework for public comment. This became apparent in May 2026, when the Prudential Authority called for input on a draft supporting directive proposing the exemption of certain payment activities from constituting the ‘business of a bank’. Please refer to the 20 May 2026 SA Legal Academy report for more information.
The South African Reserve Bank (SARB) has released three draft documents for public comment – presumably by 30 April 2025, although this date does not feature in any of the documents themselves. It appears under a link to one of the website notices concerned. Developed under the 1990 Banks Act, all three documents focus on the national payment system and respectively:
- discuss its ‘interoperability’
- propose that specific activities should be deemed not to constitute ‘the business of a bank’
- comments template, and
- propose an authorisation framework in that context
Published by SA Legal Academy Policy Watch
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