The Science Of ...

Banking regulation… it’s boring, but it has already saved us all at least once

Banking regulation… it sounds boring, but it impacts on our livelihoods in a direct way many fail to realise.

It saved South Africa from the worst effects of the Global Financial Crisis when it smashed the world economy in 2008.

South African banks didn’t own pensions in Iceland.

They didn’t own sub-prime property in America.

They didn’t get caught up in that same mess.

Why?

It’s not because they were enlightened, or somehow “better” than those in other countries.

It’s because they were well regulated.

The Money Show’s Bruce Whitfield interviewed Kuben Naidoo for his weekly “The Science Of” feature.

Naidoo is the Deputy Governor and CEO of the Prudential Authority at the South African Reserve Bank.

He spoke about the ins and outs of banking regulation.

Listen to the interview in the audio below.

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