The Market Practitioners Group (MPG) has released an update on the transition plan for the Johannesburg Interbank Average Rate (Jibar). This document details the strategy to increase the adoption of the South African Rand Overnight Index Average (ZARONIA) in financial markets, moving away from Jibar.
The transition aims to align with global trends in benchmark rate reforms and enhance market stability. The roadmap provided by MPG is expected to guide stakeholders through this significant change in financial benchmarks.