About us
At inception, the Bank had total assets amounting to K15.96 million with foreign assets amounting to K15.2 million an equivalent of £8.8 million, representing 18.1 percent of the federal currency which was redeemed in Malawi. By 1981, the year its head office moved to Lilongwe, the Reserve Bank of Malawi had expanded its operations when total assets increased to K230.7 million with foreign assets amounting to K43.9 million.
In April, 1989, the Reserve Bank of Malawi (RBM) Act was revised stipulating the Bank's principal functions which are in the interest of the national economy and are in line with the economic policies of the government. Before the revision of the Act, the Reserve Bank of Malawi reported to the Treasury. The 1989 RBM Act, however, 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.
In 1990, the Reserve Bank of .... Visit Our Website For more info www.rbm.mw
