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RISK MANAGEMENT | April 2026

No New JIBAR Prohibition​

Absa | Corporate and Investment Banking > Insights and Events > No New JIBAR Prohibition
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​With nine months remaining until the formal cessation of the Johannesburg Interbank Average Rate (JIBAR) on 31 December 2026, the South African Reserve Bank Prudential Authority (SARB PA) and the Financial Sector Conduct Authority (FSCA), together “the Authorities”, have issued a joint communication instructing financial institutions to stop initiating new JIBAR-linked transactions, products and exposures from 1 May 2026. ​

This forms part of the broader market transition from JIBAR to the South African Rand Overnight Index Average (ZARONIA), the recommended alternative reference rate.

Regulatory update for market participants:

JIBAR-Announcement

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