# Jibar derivatives still top R98 trillion, Reserve Bank says

> South Africa's Reserve Bank moved the cessation date for the Jibar interest rate benchmark from 31 December 2026 to 31 May 2027. Deputy Governor Rashad Cassim said Jibar still underlies more than R98 trillion of derivatives, compared with over R18.5 trillion linked to its replacement, ZARONIA. The delay follows the need for legislation covering legacy contracts.

- Date: 2026-11-03 · published 2026-11-04T09:09:57.084Z
- Category: policy · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/79502-jibar-derivatives-still-top-r98-trillion-reserve-bank-says
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

The delay gives market participants more time to convert benchmark-linked contracts, reducing near-term disruption risk in South African rate-linked finance. It has no direct effect on agricultural commodity prices.

## Sources

- randdesk.co.za: https://randdesk.co.za/markets-and-rand/sarb-cassim-market-practitioners-speech/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.