central bank
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union,
and oversees their commercial banking system. In contrast to a commercial bank, a central b ...
of
Malawi
Malawi (; or aláwi Tumbuka: ''Malaŵi''), officially the Republic of Malawi, is a landlocked country in Southeastern Africa that was formerly known as Nyasaland. It is bordered by Zambia to the west, Tanzania to the north and northeas ...
established in the year 1964 located in Lilongwe. The current governor is Wilson Banda.
The Bank is active in promoting
financial inclusion
Financial inclusion is defined as the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and service ...
policy and is a leading member of th Alliance for Financial Inclusion It is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration during the 2011
Global Policy Forum The Global Policy Forum (GPF) is an international non-governmental organization founded in December 1993 and based in New York and Bonn (Global Policy Forum Europe). The aim of the Global Policy Forum is to critically accompany and analyze devel ...
held in Mexico.
The Reserve Bank of Malawi is the only institution permitted to issue the Malawian kwacha, which replaced the
Malawian pound
The pound was the currency of Malawi until 1971. From 1932, Malawi (then known as Nyasaland) used the Southern Rhodesian pound. In 1955, a new currency was introduced, the Rhodesia and Nyasaland pound. This was replaced by the Malawian pound in ...
Economy of Malawi
The economy of Malawi is $7.522 billion by gross domestic product as of 2019, and is predominantly agricultural, with about 80% of the population living in rural areas. The landlocked country in south central Africa ranks among the world's lea ...
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List of central banks of Africa
There are two African currency unions associated with multinational central banks; the West African Banque Centrale des États de l'Afrique de l'Ouest (BCEAO) and the Central African Banque des États de l'Afrique Centrale (BEAC). Members of bot ...
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List of central banks
.
Central banks
Central banks
Central banks
This is a list of central banks. Countries that are only partially recognized internationally are marked with an asterisk (*).
Disappeared central banking jurisdictions
* – Bank of Amsterdam (1 ...
Malawi
Malawi (; or aláwi Tumbuka: ''Malaŵi''), officially the Republic of Malawi, is a landlocked country in Southeastern Africa that was formerly known as Nyasaland. It is bordered by Zambia to the west, Tanzania to the north and northeas ...