The South African Reserve Bank’s Financial Surveillance Department has cancelled Grindrod Bank Limited’s appointment to conduct the business of a Restricted Authorised Dealer, with immediate effect. Following the cancellation, Grindrod Bank will be removed from sections A.2(A) and A.2(C) of the Currency and Exchanges Manual for Authorised Dealers and the Currency and Exchanges Manual for Authorised Dealers in foreign exchange with limited authority. The accompanying Government Notice confirms the action is issued for the purposes of the Exchange Control Regulations published under Government Notice No. R.1111 of 1 December 1961, as amended, and references Notice 2712 of 2024. The amended manuals are available on the South African Reserve Bank’s website.
South African Reserve Bank 2025-10-28
South African Reserve Bank cancels Grindrod Bank’s Restricted Authorised Dealer status with immediate effect
The South African Reserve Bank's Financial Surveillance Department has revoked Grindrod Bank Limited's status as a Restricted Authorised Dealer, effective immediately. Consequently, Grindrod Bank will be removed from relevant sections of the Currency and Exchanges Manuals. This action is in accordance with the Exchange Control Regulations and is confirmed by Government Notice 2712 of 2024.