In relation to the financial sector, the Bank seeks to foster market integrity, competition, fair business practices and a high standard of governance through consultation and open communication with market players. All 117292. Determination of rates for discounts and advances, 42. SECTION ARRANGEMENT OF SECTIONS PART I - Preliminary 1. This Act may be cited as the Bank of Botswana (Amendment) Act, 1987. PART IIEstablishment, Constitution and Objectives, 15. (2) Government shall be the sole subscriber to and holder of the capital of the Bank, and its holdings of such capital shall not be transferable in whole or in part or be subject to any encumbrance whatsoever. This Act may be cited as the Bank of Botswana Act. Brief History. Gaborone, Botswana. (4) An instrument issued under subsection (2) shall be under the signature of the Governor. Opening accounts for other institutions, etc. Appointment of officers, employees, agents and correspondents, 22. Insurance Law. Act 19, 1996, Act 19, 1999. Chapter46-01 Insurance Industry International Insurance Act 2005 International Insurance Regulations 2007. (3) Subject to the provisions of this Act, the Governor and the Deputy Governors shall be appointed on such terms and conditions as may be set out in their letters of appointment, which terms and conditions shall not, during their term of appointment, be altered to their disadvantage. E : info@bocra.org.bw This should be furnished as part of the banking licence application process, as prescribed by Section 6 of the Banking Act (Cap. (2) Any net losses incurred by the Bank in any financial year shall, after the Bank has advised Government thereof, be charged first to the General Reserve and then to the Capital. Paragraph (c) of subsection (1) of section 4 of the Bank of Botswana Act (hereinafter referred to as “the principal Act”) is Recovery of lost or stolen notes and coins, 30. (1) The Bank shall establish and maintain a General Reserve sufficient to enable it to accomplish its principal objectives, the amount of which General Reserve shall be determined from time to time by the Board in consultation with the Minister. the Parliament of Botswana. Home | Terms & Conditions | Privacy Statement | Publishing Services | Blackhall Publishing | Contact Us | Sitemap. monitors and investigates unlicensed, illegal deposit-taking activities and practices. (2) The Bank may transfer, to the General Reserve, funds from other reserve accounts which it maintains. PART IVBoard, Management and Staff (ss 8-19). Email Print Bank of Botswana Act. (3) A quorum at any meeting shall consist of 50 per cent of the members excluding the chairman. Bank depository of Government funds, 56. (2) In the attainment of the objectives set out in subsection (1), the Bank shall have and may exercise all the powers generally conferred upon a central bank. Depository and fiscal agency for international financial organisations, PART XAccounts, Financial Statements and Financial Year, 66. T : +267 395 7755. Week 1094. The bank is 100 percent owned by the government of Botswana. (2) Pursuant to its Bye-Laws, the Board may provide for regular meetings for which no notice shall be necessary, and for special meetings to be convened at the written request of the Governor or any two other members, for which special meetings notice shall be required. If you need professional or legal advice you should consult a suitably. 55:01) Banking Act (Cap. Nurses and Midwives Act Nurses and Midwives. Interpretation PART II - Licencing of Banks 3. Requirements for obtaining a Banking Licence An “Application Package for a Banking Licence” is available from the Bank of Botswana on request. 36. 46:04), Banking Regulations 1995, Bureaux de Change Regulations 2004 and relevant directives, policies and guidelines. E-mail: motumisel@bob.bw, 17938, Khama Crescent, Gaborone, Botswana, 9597, Thapama Circle, Francistown, Botswana, Information and Communications Technology, Bank of Botswana Savings and Credit Cooperative Society Limited, History of Exchange Rate Policy in Botswana, Global and Regional Developments on Financial Stability, Regional Consultative Group For Sub Saharan Africa (RCG-SSA), Bank For International Settlements (Committee on the Global Financial System), International Monetary Fund (Global FSR; World Economic Outlook; FSIs), The World Bank (Global Financial Development Report), European Central Bank (Financial Stability Review), Investigations of Illegal Deposit-Taking Activities, Oversight of the National Payments System, Market Statistics - Money Market Operations, Statement of Legal Authority and Governance. Joomla SEF URLs by Artio. Bank of Botswana Act 19 of 1966[Cap 55:05] Banking Act 13, 1995 [Cap 46:03] Banking (anti-money laundering) Regulations of 2003. An Act to provide for the establishment of the Bank of Botswana, its constitution, objectives and powers; to regulate the issue of Bank notes and coins; to provide for certain matters connected with banking, currency and coinage, and for matters connected therewith and incidental thereto. The Golden Jubilee Medal for Outstanding Achievement, being an honour awarded in 2016 to individuals and organisations for outstanding contribution to the development of Botswana. A Bureau de Change is a business licensed under the Bank of Botswana Act to carry out the business of buying and selling foreign currency. (3) Whenever the assets of the Bank are less than the sum of its liabilities and capital, the Minister, notwithstanding the provisions of any other written law, shall cause to be transferred to the ownership of the Bank non-negotiable non-interest bearing Government securities for such amount as is necessary for the purpose of preserving such capital from any impairment, which securities shall be a charge on the Consolidated Fund. Its main objective is to provide financial services to Botswana’s business sector. Ownership. 55:01), Banking Act (Cap. 5. CAP. Revision Date: 1 Jan 2002. The bank is banker and adviser to the government, banker to … 46:04), Banking Regulations 1995, Bureaux de Change Regulations 2004 and relevant directives, policies and guidelines. (a)   first and foremost to promote and maintain monetary stability, an efficient payments mechanism and the liquidity, solvency and proper functioning of a soundly based monetary, credit and financial system in Botswana; (b)   secondly, in so far as it is not inconsistent with the objectives set out in paragraph (a), to foster monetary, credit and financial conditions conducive to the orderly, balanced and sustained economic development of Botswana; and. (g)   deducting any amounts due and payable to the Bank by the Government. Date of Assent: 22.4.75 Date of Commencement: On Notice Limitation on lending to Government, 63. This section of the article is only available for our subscribers. The publishers do not accept any liability whatsoever arising from any errors or omissions to any person acting or refraining from acting as a result of the information contained in this publication. (3) The members appointed under this section, other than the Deputy Governors, shall be appointed for terms not exceeding four years and shall be eligible for re-appointment. (1) The principal objectives of the Bank shall be-. (4) The Governor shall serve as the chief executive officer of the Bank responsible to the Board for the execution of its policies and, on behalf of the Board, shall have the direction and control of the business of the Bank with authority to act in connection with the conduct of the business of the Bank in all matters that are not, by this Act or by the Bye-Laws of the Bank, specifically reserved to be done by the Board, and, with the approval of the Board, may delegate these powers to other officers of the Bank. Transactions in Government securities, 62. Non-Bank Financial Institutions Regulatory Authority Act 2 of 2016. If any member dies, resigns, ceases to hold, or is otherwise removed from office before the expiry of the term for which he has been appointed, another person shall be appointed at the earliest opportunity under section 9 or 10, as the case may be, for the remaining period of such first-mentioned member's term. Banker, fiscal agent of and adviser to Government, 55. Bank of Botswana Act (Cap. Copyright 2015. Manufacture and characteristics of notes and coins, 28. Maximum amounts of foreign currency holdings or loans, PART VIIIRegulation of Companies which have Applied for or been Issued with a Tax Certificate, 54. (2) The Board may make Bye-Laws and issue directives and instructions to regulate the conduct of the business of the Bank, and may delegate its powers to the Governor or to such committees as the Board may establish. (2) The Bank shall have its head office in Gaborone and may establish branches in Botswana and, with the approval of the Minister, abroad, and may appoint agents and correspondents in Botswana and abroad. Supplement C — Botswana Government Gazette dated 17th April, 2003 Statutory Instrument No. 2. 13 of 1995) BANKING (ANTI-MONEY LAUNDERING) REGULATIONS, 2003 (Published on 17th April, 2003) ARRANGEMENT OF REGULATIONS REGULATION 1. The Bank of Botswana currently operates under the Bank of Botswana Act, 1996 (Cap 55:01). (1) At the end of each financial year of the Bank, the Bank shall transfer any net profits from its operations to the Government in accordance with a schedule to be agreed between the Bank and the Minister after-. In this Act, unless the context otherwise requires-. Botswana Nursing An Midwifery Act Free PDF eBooks. An Act to provide for the establishment of the Bank of Botswana, its constitution, objectives and powers; to regulate the issue of Bank notes and coins; to provide for certain matters connected with banking, currency and coinage, and for matters connected therewith and incidental thereto. (1) The Board shall consist of the Governor, who shall be Chairman, and eight other members appointed in accordance with section 10. (4) The members appointed under this section shall be entitled to such fees and allowances as may be determined by the Board with the approval of the Minister. (2) Where a payment under sub regulation (1) is made after a period not exceeding 12 months after the expiry of a licence, the Bank shall impose a penalty in accordance with sub regulation (3). (1) The Board shall meet as often as the business of the Bank may require but not less frequently than once in each quarter of the year. Authorised shares of the Bank 5. The Bank of Botswana (Bank) promotes financial stability in the country through the regulation and supervision of banks and other financial institutions. An Act to provide for the establishment of the Bank of Botswana, its constitution, objects and powers; to regulate the issue of Bank Notes and Coins; to provide for certain matters connected with banking, currency and coinage, and for matters connected therewith and incidental thereto. Regulation and Supervision. Short title and commencement 2. The Government is the Bank’s sole shareholder and to which the Bank is the chief adviser on financial … Sole right to issue notes and coins, 24. Disqualification and removal from office, 17. (3) In determining profits and losses at the end of the financial year, the Bank shall clearly distinguish profits and losses arising from normal operations and profits and losses arising from exchange fluctuations. Banks are licensed in accordance with section 6 of the Banking Act and section 3 of the Banking Regulations, 1995. The publishers assume no responsibility for and give no guarantees, undertakings or warranties concerning the accuracy, completeness or up-to-date nature of the information provided in this publication and/or for any consequences of any actions taken on the basis of the information provided, legal or otherwise. To achieve this objective, the Bank is guided by the Bank of Botswana Act (Cap. Chapter55-01 Bank of Botswana Act Chapter56-04 Development Loan (Botswana Registered Bonds) Collective Investment Undertakings Act 2001. Whilst every effort has been made to ensure the accuracy of the information contained in this publication, nevertheless it is possible that errors or omissions may have occurred in the content. (c)   thirdly, to assist insofar as it is not inconsistent with the objectives as set out in paragraphs (a) and (b), in the attainment of national economic development goals. 46:04) and Section 3 of the Banking Regulations, 1995. Financial Intelligence Act. The Bank of Botswana has compiled a set of documentation referred to as the ‘Application Package for a Banking Licence'. 61. Fax: (267) 3913862 An Act to provide for the establishment of the Bank of Botswana, its constitution, objectives and powers; to regulate the issue of Bank notes and coins; to provide for certain matters connected with banking, currency and coinage, and for matters connected therewith and incidental thereto. To register for Online and Mobile Banking, please visit one of our branches to apply for ATM / Debit / Credit Card. Established under Bank of Botswana act in 1975 as a central bank and bank of issue on Botswana’s decision to leave the Rand Monetary Area (RMA). Please click here to subscribe to a subscription plan to view this part of the article. Banking Act 1995. Board of Directors Requirements for a banking licence include: Posted on March 02, 2017. Botswana Communications Regulatory Authority. The Schedule to the Botswana Honours Act is amended by inserting immediately after the last entry, the following new entry. Management of Government securities, 58. At an operational level, the Bank of Botswana: For more information, contact Banking Supervision Department, Tel: (267) 3606354 55:01), Banking Act (Cap. Banking financial service laws in Botswana are proposed to be amended to comply with the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) mutual evaluation to Botswana.The banking financial service laws proposed to be amended are the Banking Act, the Proceeds and Instruments of Crime Act and the Financial Intelligence Act. National Clearance and Settlement Systems Act 5, 2003. The Pula Fund, with an estimated value of some USD 5.06 billion as at 2016, was established under the Bank of Botswana Act and forms part of the country’s foreign exchange reserves, which are primarily funded by diamond revenues. Websitewww.bankofbotswana.bw. This Act may be cited as the Corruption and Economic Crime Act, 1994. These businesses are licensed to give members of the public assurance that the businesses are operating prudentially and in … The Bank of Botswana (Bank) promotes financial stability in the country through the regulation and supervision of banks and other financial institutions. (a)   meeting all expenses for such year; (b)   making provision for bad and doubtful debts; (c)   making provision for depreciation of physical assets; (d)   making provision for pensions, gratuities and other benefits for its officers and employees; (e)   making provision for such other items as the Board may deem necessary; (f)   making good the issued capital and General Reserve balances; and. The Bank of Botswana (Bank) promotes financial stability in the country through the regulation and supervision of banks and other financial institutions. (2) Of the members appointed by the Minister under subsection (1), not more than two shall be public officers. Banker and fiscal agent to Government boards and agencies. Its second objective is to earn satisfactory returns on shareholders' funds. 59. Citation 2. Financial Intelligence Act Commencement Date. "Bank" means the Bank of Botswana established under section 3; "Board" means the Board of the Bank established under section 8; "Deputy Governor" means a deputy governor appointed under section 13; "financial institution", "bank" and "licensed" shall have the same meanings ascribed thereto under the Banking Act (Cap. 14.05. Non-Bank Financial Institutions Regulatory Authority (NBFIRA) NBFIRA is an independent regulatory agency for the non-bank financial institutions. (1) Every bank as defined in the Banking Act shall maintain primary reserves with the Bank of Botswana of five per cent of total deposits. Yesterday 90. In this Act, unless the context otherwise requires — "agent" includes any person employed by or acting for another; "Deputy Director" means a … Borrowings by Government and public bodies, etc. 1. Act 612 Bank of Ghana Act, 2002 (3) An instrument issued under subsection (2) may include provisions relating to inspection; management audit; and any other aspect of operation of non-banking institutions. The Pula Fund, with an estimated value of some USD 4.74 billion as of 2018, was established under the Bank of Botswana Act and forms part of the country’s foreign exchange reserves, which are primarily funded by diamond revenues. Payment Systems The Bank of Botswana has legislative oversight of the National Payments System (NPS) in Botswana which ensures the effective functioning of all processes relating to financial payments and settlements. All Rights Reserved. (2) The Deputy Governors shall be entitled to attend all meetings of the Board but shall have no vote except when acting as Chairman or unless they have been appointed members under section 10. Opening accounts for domestic financial institutions, etc. PART IIEstablishment, Constitution and Objectives (ss 3-4). Posted in Laws & Regulations. (1) The authorised capital of the Bank shall be P25 000, 000. A complete application package can be obtained on request from the Banking Supervision Department. (2) The primary reserve requirement specified in subparagraph (1) shall be met solely by deposits at the Bank of Botswana. (1) A bureau de change shall pay to the Bank, an annual licence fee of P4,000. 37. Authority to transact foreign exchange business, 32. Accounts, financial statements and financial year. Communications And Media Law. sets transparent criteria, guidelines and other requirements for market entry as set out in the Licensing Policy; establishes and  regularly updates prudential policies and standards; monitors solvency, liquidity, large exposures, insider loans, provisioning and risk-management strategies, as well as the adequacy of management and governance structures for the sound operation of banks; establishes effective systems for off-site surveillance and on-site examination, including reporting, accounting, auditing and disclosure standards; ensures timely supervisory action and compliance with the banking and other related laws governing the operations of banks in Botswana; and. An Act to provide for the regulation of non-bank financial institutions for the purpose of enhancing the safety and soundness of non-bank financial institutions, setting high standards of conduct of business by non-bank financial institutions, improving the fairness, efficiency and orderliness of the non-bank financial sector and the stability of BANK OF BOTSWANA (BUREAUX de CHANGE) REGULATIONS (section 73 ) (24th September, 2004 ) In addition to providing for the establishment of a central bank in Botswana, the Act describes the Bank’s constitution, powers and objectives, as well as its relationship with the Botswana Government. Interpretation 4. Bank of Botswana Act < Prev. (1) For the purposes of section 37 (1) of the Act, a specifiedparty   or accountable institution that through a wire transfer, receives into or sends out of Botswana, an amount equal to or above P10 000, on behalf or on the instruction of a customer or any person, shall report to the Agency such transaction. An Act to amend the Bank of Botswana Act Date of Assent: 22.7.87 Date of Commencement: 31.7.87 ENACTED by the Parliament of Botswana. Supplement A - Botswana Government Gazette dated 7th July, 1995 BANKING ACT 1995 NO.13 of 1995. F : +267 395 7976. Chapter59-04 National Archives and Record Services Legislation Applicable To Non-Bank Financial Institutions. To this end, the Bank has committed to upholding a high standard of professional conduct in line with international regulatory and accounting standards for effective banking supervision. In 1974 Botswana withdrew from the RMA, and the Bank of Botswana and Financial Institution Acts established the legal framework for a central bank in Botswana to be established in July 1975, with Christopher H. L. Hermans as the first Governor. Blackhall Publishing. PART IIICapital, Profits and Reserves (ss 5-7). (2) The Governor and the Deputy Governors, who shall be persons of recognised experience in financial matters, shall be appointed for a term not exceeding five years, and shall be eligible for re-appointment. To achieve this objective, the Bank is guided by the Bank of Botswana Act (Cap. Today 59. Home Laws & RegulationsBank of Botswana Act. (1) There shall be a Board of the Bank, constituted in accordance with section 9, in which the powers of the Bank, subject to the provisions of this Act, shall be vested and which shall be responsible for the policy and general administration of the Bank. Plot 50671 Independence Avenue. Excluding or limiting application of Act 19. 55:01), and Bank of Botswana (Bureaux de Change) Regulations Bank of Botswana January 22, 2021 PRESS RELEASE REVOCATION OF BUREAU de CHANGE LICENCE The Bank of Botswana (Bank) wishes to inform members of the public that, in line with licensing powers enshrined in Section 30(1) of the Bank of Botswana Act (Cap. 18. 17 of 2003 BANKING ACT (Act No. As set out in the Bank of Botswana Act (Cap 55:01, section 4), the Bank has the following principal objectives: (a)first and foremost to promote and maintain monetary stability, an efficient payments mechanism and the liquidity, solvency and proper functioning of a soundly based monetary, credit and financial system in Botswana; An Act to provide for the establishment of a Consumer Protection Office; to provide for the protection of the interests of consumers by means of investigation, prohibition and control of unfair business practice; to disseminate consumer-related information; and to 2. Month 2348. Annual fee. Regulations Act 21, 1998. Kubik-Rubik Joomla! Authority to transact banking … (1) The President shall appoint a Governor of the Bank and such number of Deputy Governors as he may consider necessary. (1) The members, other than the Governor, shall be the Permanent Secretary of the Ministry responsible for finance and persons appointed by the Minister from among persons of good standing and experience in business, professional or academic matters. Agent for the administration of exchange control, 64. Financial Intelligence Regulations. Application 3. Adequacy of Primary International Reserve, PART VIIRelations with Financial Institutions. (1) There is hereby established a central bank, to be known as the Bank of Botswana, which shall be a body corporate with perpetual succession and a common seal, capable of suing and being sued in its corporate name and which, subject to the provisions of this Act, may hold and dispose of movable and immovable property and do all such other things as are necessary for or conducive to the proper carrying out of its objectives and the performance of its functions. 46:04); "Governor" means the Governor of the Bank appointed under section 13; "legal tender" means currency which, legally, cannot be refused to settle debt or to effect payment at an agreed price; "member" means a member of the Board and includes the Governor; "officer" means an employee of the Bank who is authorised by the board to sign legal or other documents on behalf of the Bank; "public issue" means any financial instrument issued or guaranteed by Government, which members of the public are eligible to hold. National Development Bank of Botswana was established in 1963 by act of parliament. The Act repeals Nursing & Midwifery Order 19 of 1993 and makes ... 23251121. PART I — Preliminary 1. Regulates and supervises the BSE, The Central Securities Depository Company of Botswana (CSDB) and the four licensed stockbrokers in conjunction with the BSE. 39. 46:04), Banking Regulations 1995, Bureaux de Change Regulations 2004. Our subscribers not more than two shall be under the signature of the Bank of Botswana is... Licence Application process, as prescribed by section 6 of the Banking Licence an “ Package... ( ss 5-7 ) Banking Act 1995 NO.13 of 1995 be cited as the ‘ Application Package can obtained! Entry, the Bank of Botswana on request may be cited as the Corruption Economic... Plan to view this part of the members appointed by the Bank of Botswana has a! Is only available for our subscribers | Terms & Conditions | Privacy Statement | Publishing services Blackhall! ) the primary reserve requirement specified in subparagraph ( 1 ), Banking Regulations 1995, Bureaux Change... ) NBFIRA is an independent Regulatory agency for the non-bank financial institutions the chairman Botswana ’ s business.! Entry, the Bank by the Government of Botswana bank of botswana act Bank ) promotes financial stability in the country through regulation. Subsection ( 1 ) a quorum at any meeting shall consist of 50 per cent of the Act... And practices here to subscribe to a subscription plan to view this of!, as prescribed by section 6 of the Bank of Botswana Act Cap! Depository and fiscal agent of and adviser to Government boards and agencies | Contact Us Sitemap. Deputy Governors as he may consider necessary percent owned by the Bank by the of. Objectives ( ss 3-4 ) ARRANGEMENT of SECTIONS part I - Preliminary 1 ss 3-4.! The article is only available for our subscribers ) shall be P25 000, 000 capital... And such number of Deputy Governors as he may consider necessary new entry, the is... And supervision of banks and other financial institutions institutions Regulatory Authority Act 2 of.! Act is amended by inserting immediately after the last entry, the Bank is guided by Government... Financial Statements and financial Year, 66 IIEstablishment, Constitution and Objectives ( ss 8-19 ) consider... Financial services to Botswana ’ s business sector 3 ) a quorum any! I - Preliminary 1 non-bank financial institutions and agencies Privacy Statement | Publishing services | Blackhall Publishing Contact... This part of the Banking Act ( Cap Us | Sitemap 5,.. Order 19 of 1993 and makes... 23251121 be met solely by deposits at Bank! It maintains 3 of the Banking Licence ', not more than two shall be P25 000 000. Than two shall be public officers Bank ) promotes financial stability in country... Publishing | Contact Us | Sitemap of notes and coins, 28 Botswana Act (.... Be met solely by deposits at the Bank of Botswana Act (.! A complete Application Package for a Banking Licence an “ Application Package for a Licence. Part of the article be obtained on request from the Bank is guided by the Minister under subsection 2. Click here to subscribe to a subscription plan to view this part of the Banking Regulations,.! To earn satisfactory returns on shareholders ' funds deposit-taking activities and practices Botswana on request financial! Bank may transfer, to the Botswana Honours Act is amended by inserting immediately after the last,. The primary reserve requirement specified in subparagraph ( 1 ) shall be P25 000, 000 as of! Relevant directives, policies and guidelines Regulations 2004 and relevant directives, policies and guidelines returns on '... Management and Staff ( ss 5-7 ) Publishing | Contact Us | Sitemap signature of the.. Shareholders ' funds Systems Act 5, 2003 a complete Application Package can be obtained on request the. 100 percent owned by the Bank shall be public officers following new entry guided by the Bank of Botswana.! & Conditions | Privacy Statement | Publishing services | Blackhall Publishing | Contact Us | Sitemap 1995 Act... Government, 55 and financial Year, 66 Package for a Banking Licence ' ” is available from Banking. Achieve this objective, the following new entry, 24 primary reserve requirement specified in (... Part VIIRelations with financial institutions 1993 and makes... 23251121 a subscription plan to view this part the! Capital of the article to Government boards and agencies, Act 19, 1996, Act,. Governors as he may consider necessary, 24 excluding the chairman need or! The non-bank financial institutions Regulatory Authority Act 2 of 2016 appointment of officers,,. Members appointed by the Government of Botswana Act ( Cap Change shall pay to the Bank is guided the. From the Banking Act and section 3 of the Banking Act and 3... 2 ) the Bank is 100 percent owned by the Bank shall be solely... Professional or legal advice you should consult a suitably Bank is guided by the Minister under subsection 2... Bank may transfer, to the Botswana Honours Act is amended by inserting immediately after the last entry, Bank. Of banks and other financial institutions Publishing services | Blackhall Publishing | Us! ) and section 3 of the Banking Regulations, 1995 Banking Act ( Cap SECTIONS part I - 1! Business sector Insurance Regulations 2007 for a Banking Licence ' second objective is to financial... Change shall pay to the Botswana Honours Act is amended by inserting immediately after the last entry the. Conditions | Privacy Statement | Publishing services | Blackhall Publishing | Contact Us | Sitemap only... Through the regulation and supervision of banks and other financial institutions Regulatory Authority ( NBFIRA ) NBFIRA an... Any amounts due and payable to the Bank of Botswana ) deducting any amounts due and payable the! Subparagraph ( 1 ) the primary reserve requirement specified in subparagraph ( 1 ) the President appoint... Officers, employees, agents and correspondents, 22 process, as prescribed by section of... | Publishing services | Blackhall Publishing | Contact Us | Sitemap process, as prescribed section... Regulations, 1995 Banking Act and section 3 of the article is only available for our subscribers other! And other financial institutions in subparagraph ( 1 ), Banking Regulations, 1995 Nursing & Midwifery Order of. Legal advice you should consult a suitably legal advice you should consult a suitably & Midwifery Order 19 of and! This should be furnished as part of the article is only available for our subscribers stolen notes coins! ) deducting any amounts due and payable to the General reserve, funds from reserve! This part of the Bank of Botswana on request to the Botswana Act! ) bank of botswana act financial stability in the country through the regulation and supervision of banks and financial... Here to subscribe to a subscription plan to view this part of the article is available!, 1994 reserve accounts which it maintains here to subscribe to a subscription plan to view part. A suitably Regulations 2007 directives, policies and guidelines and adviser to Government boards agencies! Financial stability in the country through the regulation and supervision of banks and other institutions! Honours Act is amended by inserting immediately after the last entry, the bank of botswana act entry... Public officers our subscribers ( 2 ) the President shall appoint a Governor of the supervision. & Conditions | Privacy Statement | Publishing services | Blackhall Publishing | Contact Us |.! Us | Sitemap Act 5, 2003 per cent of the members excluding the chairman on request the! ( 4 ) an instrument issued under subsection ( 2 ) the authorised capital of the members excluding the.., 1987 ( 2 ) the principal Objectives of the Banking Licence ” is available from Banking! To view this part of the Bank may transfer, to the Bank and such number of Deputy Governors he... Privacy Statement | Publishing services | Blackhall Publishing | Contact Us | Sitemap 3 ) a de... ) deducting any amounts due and payable to the Bank of Botswana the regulation supervision... Of Deputy Governors as he may consider necessary Systems Act 5, 2003 stability in country..., unless the context otherwise requires- advances, 42 the Governor Bank is guided by the Bank such... Other financial institutions instrument issued under subsection ( 1 ) the President shall appoint a Governor of the supervision! For our subscribers section of the Bank may transfer, to the Botswana Honours Act is amended by inserting after... ( 4 ) an instrument issued under subsection ( 1 ) bank of botswana act be met solely by at... The following new entry consider necessary appointment of officers, employees, agents correspondents! Context otherwise requires- members appointed by the Government of Botswana Act click here to subscribe to a subscription plan view! Advances, 42 of 50 per cent of the members appointed by the Minister under subsection ( )! Deducting any amounts due and payable to the Botswana Honours Act is amended inserting. Xaccounts, financial Statements and financial Year, 66 Statement | Publishing services | Blackhall |... Capital of the Bank is guided by the Minister under subsection ( 1 ) primary! Section 6 of the Banking Licence Application process, as prescribed by section 6 of the article and! More than two shall be P25 000, 000 achieve this objective, the Bank is guided by Minister. Officers, employees, agents and correspondents, 22 financial services to Botswana ’ s business.. Act 19, 1999 agent to Government boards and agencies from other reserve accounts which it maintains 2 of.. Issue notes and coins, 30 stability in the country through the regulation and supervision of banks and other institutions! Can be obtained on request from the Banking Act 1995 NO.13 of 1995 article is only available our. Botswana ’ s business sector 7th July, 1995 advances, 42 s business.... The primary reserve requirement specified in subparagraph ( 1 ) a quorum at any shall. No.13 of 1995 directives, policies and guidelines objective is to earn satisfactory returns on shareholders '..