digplanet beta 1: Athena
Share digplanet:

Agriculture

Applied sciences

Arts

Belief

Business

Chronology

Culture

Education

Environment

Geography

Health

History

Humanities

Language

Law

Life

Mathematics

Nature

People

Politics

Science

Society

Technology

Reserve Bank of Zimbabwe
Logo
Logo
Headquarters Harare, Zimbabwe
Central bank of Zimbabwe
Currency ZW$
ZWD (ISO 4217)
Website www.rbz.co.zw

History[edit]

The bank traces its history to the Bank of Rhodesia and Nyasaland, founded in March 1956, which in turn was the successor to the Central Currency Board. The Reserve Bank has continued to function, and has grown in operations and staff, through a variety of changes in sovereignty and governmental structure in Rhodesia and Zimbabwe. For over 4 decades the RBZ from the Reserve Bank Buldind along Samora Machel Aveneu adjacent to First street. In the late 80S a competition was conducted to design the new building and the winning design was by Clinton & Evans and Architects,they went on to design the Reserve bank of Malawi Building as well. Construction of the new RBZ building began in 1993 and was fully completed in 1997 but was officially opened by President Robert Mugabe on May 31, 1996. The building is the tallest in Zimbabwe standing at a height of 394 feet with 28 floors above ground.

Structure[edit]

The Reserve Bank of Zimbabwe Act provides for a Board of Directors and a Governor. The Governor, assisted by three deputy governors, is responsible for the day-to-day administration and operations of the bank. The current Governor is John Panonetsa Mangudya.[1] The Governor and his three deputies are appointed by the president for five-year terms that may be renewed. The Governor also serves as chairman of the board. The board's membership includes the three deputies and a maximum of seven other non-executive directors, intended to represent key sectors of the economy.

Operations[edit]

The Reserve Bank's most important role is to create and enact monetary policies. According to the bank's website, as the only producer of Zimbabwe's bank notes and coins, it regulates the amount of money in circulation. However, since a range of foreign currencies is currently in use for domestic transactions, the bank's ability to control money supply is limited. The Reserve Bank also looks after the country's gold and other assets, and serves as an advisor to the government, providing the government with daily banking services. It is also active in promoting financial inclusion policy and is a member of the Alliance for Financial Inclusion.[2]

Relevancy[edit]

Due to the unstable economic conditions and failure to control inflation (2008), economists have suggested that the Reserve Bank be abolished. Some economists have suggested that the Reserve Bank of Zimbabwe be reformed. Legislation in 2008 was debated in the lower house of the Zimbabwean parliament with a view to limiting the so-called quasi-fiscal activities of the Reserve Bank.[3]

See also[edit]

External links[edit]

References[edit]

  1. ^ http://www.newzimbabwe.com/business-15010-CBZ+boss+named+new+RBZ+governor/business.aspx
  2. ^ "AFI members". AFI Global. 2011-10-10. Retrieved 2012-02-23. 
  3. ^ http://www.voanews.com/english/archive/2008-06/2008-06-27-voa2.cfm



Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Reserve_Bank_of_Zimbabwe — Please support Wikipedia.
This page uses Creative Commons Licensed content from Wikipedia. A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia.
17664 videos foundNext > 

Zimbabwe's Bank Plans to Import Special Coins

The reserve bank of Zimbabwe plans to import new coins with similar value to those currently circulating in the economy to ease a shortage of change in the e...

Zimbabwe hunts for a Central Bank Governor

Zimbabwe is looking for a Central Bank Governor, after Gideon Gono stepped down as Governor of the Reserve Bank of Zimbabwe, on the 1st of December. During h...

Zimbabwe music-Gono bvisa Father Zero(Remove Mugabe)-Viomak

A video showing how the Zimbabwean currency has fallen,backed by Viomak protest music.She sings that the governor of the reserve bank of Zimbabwe ,Gideon Gon...

Zimbabwe Dollar Proof of Revaluation

Zimbabwe Dollar - Revaluation update. http://globalcurrencyreset.net/zimbabwe-dollar-to-usd/ In my latest video I analyze statements made by the reserve bank...

Moris B Mpofu Chairman of Homelink Zimbabwe speaking in Cardiff, Wales

A high powered delegation from Homelink, a Reserve Bank of Zimbabwe company, incorporated in 2004 to specifically serve Zimbabweans in the Diaspora is in Bri...

Homelink: What Zimbabweans Want

Moris B Mpofu, chaiman of the board at Homelink Private Ltd and director of exchange control at the Reserve Bank of Zimbabwe, talks about Homelink and the se...

Zimbabwe Dollar To USD | DON'T BUY ZIM DOLLAR | GLOBAL CURRENCY RESET

Zimbabwe Dollar to USD http://globalcurrencyreset.net/zimbabwe-dollar-to-usd/ . Zimbabwe Revaluation Update 8/16/2014 https://www.youtube.com/watch?v=linBWw2...

New Zim coins now in circulation

The Reserve Bank of Zimbabwe unveiled special coins known as bonds to run alongside the foreign multi-currency units already in use in the country. The coins...

AAYN Episode 1: Zimbabwe Inflationary $100,000,000,000,000 Notes

The American Association of Young Numismatists (AAYN) is an association dedicated to educating and impassioning young people about the hobby of coin collecti...

John Mangudya takes up leadership of Zimbabwe Central Bank

Zimbabwe's new Reserve bank boss has his work cut out. The country's interbank market collapsed at the height of inflation and the country operates with more...

17664 videos foundNext > 

3987 news items

ZimEye - Zimbabwe News

NewsdzeZimbabwe
Tue, 27 Jan 2015 03:37:30 -0800

Reserve Bank of Zimbabwe (RBZ) governor John Mangudya says the numerous bank closures seen in recent years are normal in tough economic environments and insisted that the country's banking sector remains “safe and sound”. “This happens ...
 
The Zimbabwe Standard
Sat, 24 Jan 2015 19:00:00 -0800

The Reserve Bank of Zimbabwe (RBZ) posted a US$19 million surplus in 2013 as a result of impairment reversals after government forked out US$61 million to repay some of the bank's loans and tax obligations. BY OUR STAFF. In 2012, RBZ posted a ...

NewsdzeZimbabwe

NewsdzeZimbabwe
Tue, 27 Jan 2015 03:33:43 -0800

Reserve Bank of Zimbabwe governor John Mangudya added that the state of Zimbabwe's economy does not warrant any salary increases in whatever sector. “This economy cannot afford any salary increases, there is not a single sector performing well ...
 
The Herald
Mon, 26 Jan 2015 13:56:15 -0800

Having information is liberating, but in some instances it can be vexing. On December 18, 2014, the Reserve Bank of Zimbabwe introduced bond coins to allow goods to be charged at prices such $0.29 or $0.61. The problem with the then obtaining set up ...

The Zimbabwe Dailt

NewsDay
Wed, 31 Dec 2014 21:00:48 -0800

THE Reserve Bank of Zimbabwe (RBZ) has applied to the High Court of Zimbabwe for the liquidation of troubled Interfin Bank Limited following the expiry of the curatorship period. BUSINESS REPORTER. Interfin was placed under curatorship in June 2011 ...

Ventures Africa

The Herald
Fri, 09 Jan 2015 02:13:10 -0800

ALLIED Bank has surrendered its licence to the Reserve Bank of Zimbabwe after failing to raise the minimum capital prescribed by the central bank. In a statement, the Reserve Bank of Zimbabwe said it had cancelled Allied Bank Limited's licence in terms ...

BDlive

BDlive
Mon, 26 Jan 2015 23:41:02 -0800

Then after a full day of this, the final straw was a presentation by Reserve Bank of Zimbabwe governor John Mangudya. Halfway through his presentation, he stopped to add some convincing logic to his argument that China should just give Zimbabwe a bit ...

Wall Street Journal

Courthouse News Service
Tue, 20 Jan 2015 14:52:30 -0800

"Between late 2008 and early 2010, C. Gregory Turner, met multiple times in Africa with Zimbabwean government officials, including President Mugabe and Gideon Gono, governor of the Reserve Bank of Zimbabwe, who were individually subject to U.S. ...
Loading

Oops, we seem to be having trouble contacting Twitter

Support Wikipedia

A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia. Please add your support for Wikipedia!

Searchlight Group

Digplanet also receives support from Searchlight Group. Visit Searchlight