Central Bank of Swaziland
Encyclopedia
The Central Bank of Swaziland, or Umntsholi Wemaswati, is the central bank
of Swaziland
. It was established in 1974 and is based in Mbabane
. According to the bank's website
, 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
. The bank conducts weekly auction
s of 91-day Swazi treasury bills, through "primary dealer" Swazi banks.
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
of Swaziland
Swaziland
Swaziland, officially the Kingdom of Swaziland , and sometimes called Ngwane or Swatini, is a landlocked country in Southern Africa, bordered to the north, south and west by South Africa, and to the east by Mozambique...
. It was established in 1974 and is based in Mbabane
Mbabane
-References:...
. According to the bank's website
Website
A website, also written as Web site, web site, or simply site, is a collection of related web pages containing images, videos or other digital assets. A website is hosted on at least one web server, accessible via a network such as the Internet or a private local area network through an Internet...
, 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
Foreign exchange market
The foreign exchange market is a global, worldwide decentralized financial market for trading currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends...
position and safeguarding the country's foreign reserves of cash
Cash
In common language cash refers to money in the physical form of currency, such as banknotes and coins.In bookkeeping and finance, cash refers to current assets comprising currency or currency equivalents that can be accessed immediately or near-immediately...
. The bank conducts weekly auction
Auction
An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder...
s of 91-day Swazi treasury bills, through "primary dealer" Swazi banks.
List of authorized banks of Swaziland
- Swazi Bank
- Standard BankStandard BankThe Standard Bank of South Africa Limited is one of South Africa's largest financial services groups. It operates in 30 countries around the world, including 17 in Africa.-History:...
Swaziland - First National Bank Swaziland
- NedbankNedbankNedbank is one of the largest banks in South Africa; however it is one of the newest banks to be incorporated in South Africa. It is headquartered in Johannesburg...
Swaziland - Swaziland Building Society