Investec Says Basel Reforms Must Ensure Fair Play for Banks

The head of Investec South Africa is backing calls for changes to Basel III rules that govern capital requirements for banks globally to even the playing field for lenders.

The US, Europe and the UK have differing approaches to the rules, which has imposed a steep cost on banks that operate in developing markets, said Cumesh Moodliar, chief executive officer of the South African unit of the London- and Johannesburg-listed lender.