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Reserve Bank of Zimbabwe |
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Reserve Bank of Zimbabwe
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The Reserve Bank of Zimbabwe
is the central bank of Zimbabwe. The Reserve Bank of Zimbabwe has its
origins in the Bank of Rhodesia and Nyasaland which was created in March
1956 as a central bank for the Federation of Rhodesia and Nyasaland. The
Reserve Bank was the successor to the Central Currency Board, which had the
sole right to issue currency. |
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The Reserve Bank of Zimbabwe
operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The
Act provides for the Board of Directors and the post of Governor who is
responsible for the day-to-day administration and operations of the Bank.
The Governor is assisted by two Deputy Governors. The Reserve Bank has, as
its primary goal, the maintenance of the internal and external value of the
Zimbabwean currency. In this regard, the Bank is responsible for the
formulation and implementation of monetary policy, directed at ensuring low
and stable inflation levels. A further core function of the Bank is to
maintain a stable banking system through its supervisory and lender of last
resort functions.
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Other secondary roles of the Bank include the management of the country's
gold and foreign exchange assets. The bank is the sole issuer of currency
and acts as banker and advisor to Government. The main functions of the
Reserve Bank include:-
• Monetary policy formulation and implementation;
• Issuer of bank notes and coins;
• Custodian of gold and other foreign assets;
• Banker and advisor to government; and
• Bankers' bank and lender of last resort.
The vision of the Reserve Bank is to become the financial cornerstone around
which Zimbabwe's economic fortunes and developmental aspirations are
anchored. The pursuit of the Bank's vision will express itself through
leadership in the formulation, implementation and monitoring of policies and
action plans for fighting inflation, stabilisation of the internal and
external value of Zimbabwe's currency and of the financial system in a
manner that gives pride of achievement to Zimbabweans across the board. |
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Reserve Bank of Zimbabwe |
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HQ
Address: |
80 Samora Machel Avenue Harare
Zimbabwe |
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Tel: |
+263 4 703 000 |
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Fax: |
+263 4 707 800 |
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Website: |
www.rbz.co.zw |
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Email: |
rbzmail@rbz.co.zw |
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Currency: |
Zimbabwe dollar |
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Banking Hours: |
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Monday - Friday 8.00am - 4.30pm |
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List of banks governed by the Reserve Bank of
Zimbabwe |
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» Agricultural Development Bank of Zimbabwe (Agribank) |
» BancABC |
» Barclays Bank of Zimbabwe |
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» Barbican Bank Limited |
» CBZ Bank Limited |
» Ecobank Zimbabwe |
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» FBC Bank Limited |
» Genesis Investment Bank Limited |
» Highveld Financial Services Limited |
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» Interfin Bank |
» Intermarket Banking Corporation |
» Kingdom Bank Limited |
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» MBCA Bank Limited |
» Metropolitan Bank of Zimbabwe Limited |
» NMB Bank Limited |
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» Royal Bank Zimbabwe Limited |
» Stanbic Bank Zimbabwe Limited |
» Standard Chartered Bank Zimbabwe Limited |
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» Time Bank of Zimbabwe |
» Trust Banking Corporation Limited |
» TN Bank Zimbabwe |
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» ZB Bank Limited |
» Zimbabwe Allied Banking Group |
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