Financial Sector Charter

The South African Financial Sector Charter is a transformation charter in terms of the Broad-based Black Economic Empowerment (BBBEE) Act.

The Charter came into effect in January 2004 as a result of the Financial Sector Summit hosted by the National Economic Development and Labour Council (Nedlac), the multilateral social dialogue forum on social, economic and labour policy. The Nedlac partners – government, business, labour and community constituencies – negotiated the Financial Sector Summit Agreements on transforming the financial sector and signed the Summit declaration on 20 August 2002.

The objectives of the Charter are to:

In pursuit of these objectives, the Charter commits financial institutions in the sector to transforming in the areas of:

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