Iwa Salami
University of East London, Royal Docks Business School, Department Member
Research Interests:
Research Interests:
Research Interests:
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Cross-border banking services by African banks within Africa have been on the rise since the last decade. As these services are provided predominantly by complex financial institutions and involve operating within a number of African... more
Cross-border banking services by African banks within Africa have been on the rise since the last decade. As these services are provided predominantly by complex financial institutions and involve operating within a number of African financial systems, effective regulation of such entities can be challenging. The challenges are two-fold: regulating complex financial institutions on a consolidated basis and achieving effective supervisory cooperation between home and host country regulators of these banking entities, which is critical given the cross-border nature of the services they provide. Regulation is particularly significant due to the linkages of all financial systems involved in the operation of cross-border banking services and also the ease and speed with which a crisis can spread from one jurisdiction to another - as the last global financial crisis revealed. This chapter, as such, assesses the legal and regulatory challenges inherent in the delivery of cross-border servi...
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The price of bitcoin has continued on an upward trend since October 2020 and reaching new all-time highs in January 2021; but will this trend last and is this rise in price sustainable? This article considers factors that have contributed... more
The price of bitcoin has continued on an upward trend since October 2020 and reaching new all-time highs in January 2021; but will this trend last and is this rise in price sustainable? This article considers factors that have contributed to this price rise and assesses the implications of looming regulation and other factors that could interrupt this trend.
Decentralized finance (DeFi) is an ecosystem of financial applications that are built on top of blockchain networks. DeFi aims to create an open-source, permissionless, and transparent financial system that operates without any central... more
Decentralized finance (DeFi) is an ecosystem of financial applications that are built on top of blockchain networks. DeFi aims to create an open-source, permissionless, and transparent financial system that operates without any central authority. Instead, a smart contract—which is a self-executing contract with the terms of the agreement between transacting parties written into lines of code—replaces financial institutions in the transaction. As a result, DeFi is available to everyone with reliable access to electricity and Internet connectivity. It also serves as a form of non-custodial finance since users maintain full control of their assets and transact through smart contract programs that facilitate peer-to-peer interactions. While DeFi presents huge opportunities, it also poses significant risks to traditional finance ecosystems, including the use of stablecoins and the absence of a know-your-customer framework. This essay argues that for DeFi to secure credibility, it needs t...
Quite interesting developments are occurring on the African financial landscape. The growth of mobile payments services; agent banking; the increase in the use of crowdfunding mechanisms to raise finance; and the growing interest in the... more
Quite interesting developments are occurring on the African financial landscape. The growth of mobile payments services; agent banking; the increase in the use of crowdfunding mechanisms to raise finance; and the growing interest in the use of cryptocurrencies by Africans to transact have all contributed to this trend. A common factor running through these recent developments is their ability to facilitate financial inclusion. Another characteristic they all share is that they all have cross-border dimensions. This therefore requires a coordinated approach to regulation, of which a regional regulatory approach is likely to play a prominent role. The increasing speed of these developments in this era of financial technology calls for the urgent institution of a robust regional financial regulatory framework that addresses key issues raised by them and which this chapter considers.
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Contents: Foreword, Rosa M. Lastra Preface Regional economic integration arrangements in Africa Legal and institutional regional challenges of economic integration in Africa Regional institutional requirements for financial integration... more
Contents: Foreword, Rosa M. Lastra Preface Regional economic integration arrangements in Africa Legal and institutional regional challenges of economic integration in Africa Regional institutional requirements for financial integration Domestic institutional requirements for financial integration The future of financial integration and regulation in Africa Concluding remarks Bibliography Index.
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Abstract: For a long time sub-Saharan Africa (excluding South Africa) was marginalised from the international financial market. However, over the past two decades things have began to take a positive turn. Even after the recent financial... more
Abstract: For a long time sub-Saharan Africa (excluding South Africa) was marginalised from the international financial market. However, over the past two decades things have began to take a positive turn. Even after the recent financial crisis, which stifled most parts of the ...
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Abstract This paper assesses the legislative framework for banking harmonisation in the proposed West African Monetary Union and its impact on the success of the monetary union. It provides a critical assessment of the legislative... more
Abstract This paper assesses the legislative framework for banking harmonisation in the proposed West African Monetary Union and its impact on the success of the monetary union. It provides a critical assessment of the legislative framework for banking harmonisation in ...