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:: Reserve Bank of Malawi  

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 Malawi clocked 25 years of its operations with total assets amounting to K1.03 billion and foreign assets accounting for K324.5 million. By the close of 1998, total assets of the Bank registered a high of K18.8 billion with foreign assets amounting to K11.3 billion. The operations of the Bank have therefore expanded during the years more especially with the growth of the financial sector. This necessitated the building of a new and spacious branch office in Blantyre which was officially opened in November, 1998.

       
During its time of operation to date, the Bank has the following Governor's, namely:

Dr. Perks Ligoya Present  
Mr. V. Mbewe 2005-2009  
Dr. E.E. Ngalande 2000-2005  
Dr. M.A.P. Chikaonda 1995-2000  
F.Z. Pelekamoyo 1992-1995  
Hans Joachim Lesshafft 1988-1992  
S.C. Hara 1986-1988  
L.C. Chaziya 1984-1986  
J.Z.U. Tembo 1971-1984  
D.E. Thomson 1968-1971  
A.G. Perrin 1968  

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