Central Bank of Swaziland

By: EconomyWatch   Date: 9 September 2010

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The Central Bank of Swaziland is the national central bank of Swaziland. The bank was established in 1974. There is no specific law that guarantees the bank’s independence. Although the bank falls under the Ministry of Finance, it has its own setup that is independent of the Government.

The bank operates independently in carrying out its responsibilities. The Clause 3(2) of Monetary Authority Order vests in the bank statutory powers. The main mission of the Central Bank of Swaziland is to contribute towards the country’s economic advancement through promotion of stability and ensuring a stable and sound financial system.

The banks in order to realize its mission undertakes the following activities:

  • Encourage effective monetary policies within the broad contours of economic objectives
  • Managing the exchange rate policies in order to ensure that it is in the best interest of the country
  • Holding and managing the foreign exchange reserves of the country
  • Promoting the effectiveness and integrity of the financial system in the country

 

  • Collecting and analyzing economic data in order to conduct research in economic matters
  • Promoting and ensuring good working relationship with domestic, regional and international financial community

There is a minority government representation in the Bank’s Board of Directors.

The Central Bank of Swaziland works with the vision of building a modern and well-organized financial system in the country. Initiating and sustaining reforms in the financial sector is one of the prerogatives and a key element in the financial strategy of the National Bank of Serbia.

The Address and Contact details of the bank is as follows:

The Central Bank of Swaziland

Address: P.O. Box 546 Mibabane SWAZILAND Phone No.: ++268-404 32 21 Fax: ++268-404 85 30


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