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Reserve Bank of Malawi Act
An act establishing the Reserve Bank of Malawi
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19 pages
The 1989 RBM Act made the Reserve Bank of Malawi independent from government under Section 4. With this independence, the Reserve Bank of Malawi has the full mandate to conduct monetary policy whereas fiscal policy issues are the mandate of the Ministry of Finance. The Reserve Bank of Malawi therefore has to ensure that fiscal developments are consistent with monetary developments. This Act includes detailed information on:
- Establishment of the bank;
- Principle objectives of the bank;
- Capital and reserves;
- Organization and administration;
- Legal tender;
- Foreign assets;
- Powers and sanction of the bank section;
- Supervision of banks and other financial institutions;
- Accounts and statements.
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