Synthetic Financial CentreEstablish a payment bridge and switch to enable seamless transactions with government.Introduce payment standards and interoperability through Integrated Financial Management System (IFMS).Develop a national green finance classification systemExtension of market abuse rules to new asset classes as part of market integrity reforms.Upgrade and rollout of digital identity verification systemNew requirements for cybersecurity resilience, eg, all financial institutions to adopt robust cybersecurity, risk management and incident response frameworksComprehensive review and overhaul of the regulatory framework for the distribution of funeral insuranceNational Treasury and Stats SA are implementing new data collection protocols, digital platforms and legislative reforms to modernise the national statistics systemInclude AI governance principles in the Joint Standard on Culture and Governance with a financial sector focus.Implementation of regulatory reporting requirements for margin on non-centrally cleared OTC derivatives, using the Umoja platform to submit returnsTransitioning cash market products (loans, bonds, money market instruments) from JIBAR to ZARONIA by defining a fallback methodology: compounded ZARONIA + credit adjustment spread (CAS)SARB empowered to manage systematically important financial institutions (SIFIs) failures.Mandatory task force on climate-rated financial disclosures (TCFD) reportingModernise forex system for trade and investment to align with OECD code of liberalisationNew standards for exchanges and market infrastructures.Real-time, low-cost payment platform (SARB project Khokha) with the potential to boost financial inclusion.Improving credit information and reporting through national credit bureau and data-sharing reforms.Implementation of Basel III reforms to enhance risk sensitivity, granularity and consistency in credit risk calculationsReplace all previous operational risk capital approaches (advanced measurement approach and three standardised approaches) with a single, risk-sensitive standardised approach for all banksImplementation of the Basel III revised leverage ratio, including an updated exposure definition to better capture both on- and off-balance sheet risks.New reporting requirements and supervision.Strengthening liquidity support for banks through enhanced assessment and support mechanismsMove to new benchmark rate for money markets by phasing out JIBAR benchmark rate.Corporation for Deposit Insurance (CODI)Capital flows management framework review; fostering business growth and promoting investment in the region.Restructuring the Gold and Foreign Exchange Contingency Reserve Account to manage forex reserves and reduce government borrowing.Regulation of fintech, crypto assets and digital payment providersRisk-based supervision and capital adequacy reforms through enhanced monitoring, stress testing and reportingStrengthening governance and investment oversight in pension funds through new standards and proactive supervisionCrypto asset policy.Tokenisation (aka Blockchain)Supporting SMEs through payments innovationTwo-pot system/early access to retirement fundsUnclaimed assets – existing unclaimed retirement fund benefit provisionsNational Treasury’s financial inclusion policyImproved access for SMEs, diversification, innovation, competitivenessInstitutional framework for sanctionsBank compliance review (per Zondo recommendation)Cross-border transfers: action taken against unlicensed entitiesFATF Grey Listing Remediation