Reserve Bank of Malawi Act

Publication Date: 1989
Published by: Government of Malawi
Document Type: Other (PDF)

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An act establishing the Reserve Bank of Malawi

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 Acts 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.