BoB keeps hawk eye on cross-border banking

Governor Linah Mohohlo (second from right) at the official opening of State Bank of India
Governor Linah Mohohlo (second from right) at the official opening of State Bank of India

Bank of Botswana (BoB) has signed Memoranda of Understanding (MoUs) with the Indian Reserve Bank to improve supervision of cross-border banking. In response to Mmegi Business enquiries, BoB Head of Communications, Andrew Sesinyi said the MoUs follow the licensing of three commercial banks that are wholly owned by Indian banks and supervised by the Reserve Bank of India.

“The Bank of Botswana and the Reserve Bank of India have decided to enter into Memoranda of Understanding (MoUs) to facilitate supervisory collaboration and exchange of information between the two supervisory authorities on matters of mutual interest.

“This arrangement exists or it is in the process of being entered into with all other central banks and supervisory authorities whose banks and banking groups have operations in Botswana,” said Sesinyi.

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