Answer to Question #239712 in Finance for Vuyo

Question

What rules, laws licensing requirements Ukheshe must ensure that are adhered to.
As a result of this, you have been asked to research the following points and present the research proposal to your fictitious manager:
Countries to research: (1) Zimbabwe; and (2) Eswatini.
• Reserve bank and Central Bank requirements;
• Regulatory requirements (rules and license requirements);

Answer 1

The reserve bank of Zimbabwe has a main function which is maintenance of price stability, the formulation and execution of monetary policy and the fostering of a stable financial system.

The Reserve Bank of Zimbabwe (the Bank) is established by section 4 of the Reserve Bank of Zimbabwe Act, Chapter 22:15 and governed by a Board of Directors.

 The central Bank of Zimbabwe is independent.

The central bank is closely linked with the exchange rate politics because exchange rates and monetary policy are close.

Regulatory requirements are all the applicable laws, rules, orders and directives.