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South Africa: Barclays Africa says no word over FX probe

By  |  June 7, 2015

Barclays Africa Group has not yet been approached by South Africa’s competition regulators over a currency fixing probe launched last month, its chief executive said on Friday.

Africa’s No.3 lender has also not launched its own internal investigation but will co-operate fully with any investigation, Maria Ramos told Reuters on the sidelines of the World Economic Forum Africa conference in Cape Town.

“We haven’t seen what the terms of investigation are. We will co-operate when we know what the investigation is going to cover,” Ramos said.

The Competition Commission on May 19 said it was investigating several global banks for allegedly fixing foreign exchange trades involving the rand currency.

Full content: MoneyWeb

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