African Financial Institutions definition

African Financial Institutions means the Financial Institutions established under Article 19 of the Constitutive Act;
Sample 1

Examples of African Financial Institutions in a sentence

  • A Survey of the SADC Region: South African Financial Institutions, Regional Policies and Issues of Access.

  • Therefore, Reporting South African Financial Institutions (Reporting Institutions) must comply with the requirements and obligations set out in the Agreement from 1 July 2014 (see Annexure B).

  • Legislative amendments to the Tax Administration Act, 2011, were affected in order to implement a scheme under which SARS may require South African Financial Institutions to collect information under the OECD Standard for Automatic Exchange of Financial Account Information in Tax Matters, which encompasses the Common Reporting Standard (CRS) that was endorsed by G20 Finance Ministers in 2014.

  • The Financial Institutions described in paragraphs A through E of this section are Non- Reporting South African Financial Institutions that shall be treated as deemed-compliant FFIs for purposes of section 1471 of the U.S. Internal Revenue Code.

  • The following Entities shall be treated as Non-Reporting South African Financial Institutions and as exempt beneficial owners for purposes of sections 1471 and 1472 of the U.S. Internal Revenue Code, other than with respect to a payment that is derived from an obligation held in connection with a commercial financial activity of a type engaged in by a Specified Insurance Company, Custodial Institution, or Depository Institution.

  • Article 16 - The designation of the Executive Management shall be executed by the Board of Directors among the previously chosen candidates by the Chief Executive Officer.

  • The following Entities shall be treated as Non-Reporting South African Financial Institutions and as exempt beneficial owners for purposes of sections 1471 and 1472 of the U.S. Internal Revenue Code.

  • A Reporting Institution, sponsoring entity or third party service provider undertaking due diligence on behalf of a Reporting Institution, must retain records of the documentary evidence after a period of five years from the date of the submission of the return.108 Non-Reporting South African Financial Institutions and Active NFFEs are not bound by any reporting obligations under the Agreement.

  • Due diligence obligations under Annex I of the Agreement‌Annex I to the Agreement sets out the procedures applicable for the identification and reporting by Reporting South African Financial Institutions of Reportable Accounts and on payments to certain NPFIs. Annex I to the Agreement also provides for a distinction between Financial Accounts maintained as of 30 June 2014 (Preexisting Accounts) and those accounts opened on or after 1 July 2014 (New Accounts).

  • Regardless of whether an election is made under paragraph C of section I of this Annex I, South Africa may permit Reporting South African Financial Institutions to rely on due diligence procedures performed by third parties, to the extent provided in relevant U.S. Treasury Regulations.Annex II The following Entities shall be treated as exempt beneficial owners or deemed-compliant FFIs, as the case may be, and the following accounts are excluded from the definition of Financial Accounts.

Related to African Financial Institutions

  • UK Financial Institutions means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

  • Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • your financial institution means the financial institution nominated by you on the DDR at which the account is maintained.

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • Financial Institutions has the meaning set forth in the preamble in this Agreement.

  • EEA Financial Institution means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.

  • regulated financial institution means a state or nationally chartered bank, savings and loan association or savings bank, credit union, trust company, or other state or federally chartered lending institution or a regulated affiliate or regulated subsidiary of any of these entities.

  • Reporting Financial Institution means a Reporting Finnish Financial Institution or a Reporting U.S. Financial Institution, as the context requires.

  • Designated Financial Institution shall have the meaning specified in Section 14.12(a).

  • Licensed financial institution means a financial institution issued a license under this act.

  • Affected Financial Institution means (a) any EEA Financial Institution or (b) any UK Financial Institution.

  • Eligible Financial Institution means, as of the date of any assignment as contemplated in Section 8.07(a)(i), a commercial bank or financial institution (i) with a credit rating on its long-term senior unsecured debt of either (a) “AA-” or better from S&P or (b) “Aa3” or better from Xxxxx’x; and (ii) having shareholders' equity of not less than $5,000,000,000.

  • Approved Financial Institution means any bank approved by Exchange in accordance with its credit review procedures or policies;

  • Participating Financial Institution means a financial institution participating in EMT Services and/or Online Payment Services, as the case may be.

  • Qualified Financial Institution means, at any time, a financial institution organized under the laws of any jurisdiction in the United States of America or Europe that at such time has outstanding debt obligations with a stated maturity of one year or less from the date of issue and rated A-1 or higher by Standard & Poor’s, a division of The McGraw Hill Companies, Inc., Ratings Group (or any successor) or P-1 or higher by Moody’s Investors Service, Inc. (or any successor) or, in either case, such other comparable rating, if any, then used by such rating agency.

  • Qualified United States financial institution means an institution that:

  • Nonparticipating Financial Institution means a nonparticipating FFI, as that term is defined in relevant U.S. Treasury Regulations, but does not include a [FATCA Partner] Financial Institution or other Partner Jurisdiction Financial Institution other than a Financial Institution treated as a Nonparticipating Financial Institution pursuant to subparagraph 2(b) of Article 5 of this Agreement or the corresponding provision in an agreement between the United States and a Partner Jurisdiction.

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • Educational institutions means schools and suchlike institutions;

  • Non-Reporting Financial Institution means any Financial Institution that is:

  • Financial institution means a Bank, Development Finance Institution, Non Banking Finance Company, Modaraba or an institution registered under relevant laws to provide financial services within or outside Pakistan.

  • credit institutions means credit institutions as defined under Directive 2006/48/EC;

  • Partner Jurisdiction Financial Institution means (i) any Financial Institution established in a Partner Jurisdiction, but excluding any branch of such Financial Institution that is located outside the Partner Jurisdiction, and (ii) any branch of a Financial Institution not established in the Partner Jurisdiction, if such branch is located in the Partner Jurisdiction.

  • banking institution means a bank, bank and trust company, trust company, savings bank, private bank, or a national banking association, organized and doing business under the provisions of any law of this state, or of any other state of the United States, or under the provisions of any law of the United States of America.