CBN introduces special foreign exchange window for investors and exporters
The Central Bank of Nigeria (CBN) on 21 April 2017 announced that it has set up a special foreign exchange window for investors, exporters and end users. The announcement was made via a Circular referenced FMD/DIR/CIR/GEN/08/007.
Applying blockchain in securitization
After months of analysis and consultations with various industry constituents involved in different stages of the securitization lifecycle, there is little doubt that blockchain and smart contracts (a key technology that enables many blockchain applications) hold such promise.
The changing world of technology in financial services
Cognitive and analytical technologies are set to bring about widespread change in the financial services industry, not just when it comes to “defense” functions such as risk and compliance, but also in “offence” activities that drive marketing and revenue growth.
IFRS 15 New Revenue Model: Spotlight on Retail, Wholesale and Distributor Sector
Below, we highlight certain key impacts resulting from the new Standard that will be of particular interest to those in the retail, wholesale and distribution sector and then consider parts of the new Standard that may contribute to those impacts. Of course, many more complexities exist and, as described below, Deloitte has produced further guidance which explores these in greater detail.
IFRS 15 New Revenue Model: Spotlight on Power
The revenue and profit recognition profile of power companies may be significantly impacted by IFRS 15 as the new Standard is more detailed and more prescriptive than the existing guidance and introduces new complexities.
IFRS 15 New Revenue Model: Spotlight on Telecommunications
Telecoms companies have a variety of product offerings to customers. Many arrangements have multiple goods or services with options given to customers. The nature of such offerings requires careful evaluation under IFRS 15 (The new revenue recognition standard).
IFRS 15 Revenue from Contracts with Customers: New Revenue Model
Companies in Nigeria have to brace up for the adoption of a new revenue recognition model. On 28 May 2014, International Accounting Standard Board (IASB) issued a new standard on revenue recognition that replaces all existing revenue recognition models. All IFRS reporting entities must fully comply with the prescribed revenue model by 1 January, 2018.
Blockchain technology: 9 benefits & 7 challenges
Blockchain, mostly known as the backbone technology behind Bitcoin, is one of the hottest and most intriguing technologies currently in the market. Since 2013 Google searches for “blockchain” have risen 1900%.
5 blockchain use cases in financial services
One of the most discussed topics in the financial services industry today is blockchain technology. We are beginning to understand what a blockchain is, but how can we best use this technology within our business?
#5. Blockchain – loyalty and rewards
Blockchain offers many benefits, including transparency and traceability of transactions. This will help banks and insurers to create a more captivating loyalty and rewards program that fits 24/7 performance management and enhances engagement.