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 Reserve Bank of Zimbabwe Building, Harare, Zimbabwe
Central bank of Zimbabwe
Currency Zimbabwean Bond Coins and Zimbabwean Bond Notes
Website www.rbz.co.zw

The Reserve Bank of Zimbabwe is the central bank of Zimbabwe.

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 operated from the Reserve Bank Building along Samora Machel Avenue 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]

List of Governors of the Reserve Bank of Zimbabwe[edit]

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.
35912 videos foundNext > 

100 Trillion Zimbabwe Dollars | Reserve Bank Zimbabwe | Zim Dollar 40 Cents

http://globalcurrencyreset.net/zimbabwe-dollar-to-usd/ The Reserve Bank of Zimbabwe (RBZ) has announced that the 100 Trillion Zimbabwe Dollar Notes are ...

Zimbabwe Central Bank unveils eight measures to fix the cash crunch

Efforts by the Zimbabwe's central bank to ease a cash crisis have been met with a sigh of relief. On Tuesday the Governor of the Reserve bank of Zimbabwe ...

Zimbabwe's reserve bank starts to collect old Zim dollars

The Reserve Bank of Zimbabwe has began collecting old Zimbabwean dollars after demonetizing the unit last week. The southern African country will now ...

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.

Philip Haslam on Zimbabwe's plan to introduce bond notes

So another rough week for the rand and across our border, Zimbabweans are shunning our currency. That's just one of the reasons why there's an acute ...

Zimbabwe bond notes not linked to cash shortage

Reserve Bank of Zimbabwe governor, John Mangudya says cash shortages in the country are expected to end this week. This is after the central bank imported ...

Zimbabwe's reserve bank seeks to make commercial banks attractive again

Zimbabwe's Central Bank has launched a strategy that aims to make banking services attractive to the majority unbanked population. A 2014 survey showed that ...

Zimbabwe Dollar | Proof of Revaluation

Zimbabwe Dollar - Revaluation update. http://globalcurrencyreset.net/zimbabwe-dollar-to-usd/ http://globalcurrencyreset.net/situation-report-zimbabwe-dollar/ In ...

The process of demonetising the Zimbabwe dollar has began

The Reserve Bank of Zimbabwe has began the process of demonetising the Zimbabwe dollar. This ends any speculation over the possible return of the local ...

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 ...

35912 videos foundNext > 

We're sorry, but there's no news about "Reserve Bank of Zimbabwe" right now.

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