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Central Bank of Swaziland |
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Central Bank of Swaziland
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The Central
Bank of Swaziland, or Umntsholi Wemaswati, is the central bank of Swaziland.
It was established in 1974 and is based in Mbabane. The bank's mission is to
promote monetary stability and foster a stable and sound financial system.
Among the bank's responsibilities are managing Swaziland's foreign exchange
position and safeguarding the country's foreign reserves of cash. |
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The Bank is
responsible for formulating and implementing a sound monetary policy to
achieve financial stability. It is the duty of the Central Bank to achieve
and maintain price stability.
The Bank conducts research on monetary, financial and economic matters and
uses this information in policy formulation. The Bank, together with
government, is responsible for formulating and monitoring economic policies
that are aimed at promoting economic growth, development, and ultimately
improving the standard of living of the people of Swaziland. |
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The main functions of the Bank include:-
 to
formulate and implement sound monetary policy to achieve financial
stability;
to
regulate and supervise the financial sector to the end of achieving a sound
and efficient financial system;
to issue
and redeem currency (notes & coins), which is legal tender in Swaziland;
to hold
and manage foreign exchange reserves of the country;
to act as
a banker, adviser and agent to the Swaziland Government on monetary and
financial matters;
to
facilitate the development and operation of an efficient national payment
system;
to act as
lender of last resort to financial institutions and facilitate the
development of domestic financial markets;
to conduct
research on monetary, financial and economic matters to support monetary
policy formulation; and
to
strengthen stakeholder relationships.
In achieving the objectives above, the Bank commits itself to providing
effective support functions through a sound banking and financial control
system, appropriate information system and the development of competent and
qualified staff. |
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Central Bank of Swaziland |
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HQ
Address: |
Umntsholi Building
Mahlokohla Street
Mbabane
Swaziland |
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Tel: |
+268 408 2000 |
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Fax: |
+268 404 0063 |
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Website: |
www.centralbank.org.sz |
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Swift Code: |
SWAZSZMB |
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Currency: |
Lilangeni |
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Banking Hours: Mon - Fri : 8.30am -
3.30pm |
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The Central Bank of Swaziland
has to ensures, through the application of modern management practices and
technology, that all its activities are conducted effectively and
efficiently. |
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List of banks governed by the
Central Bank of Swaziland |
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» Swazi Bank |
» First National Bank |
» Standard Bank |
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» Nedbank |
» Swaziland Building Society |
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