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Central Bank of Lesotho |
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Central Bank of Lesotho
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The Central
Bank of Lesotho (CBL) is the central bank of Lesotho, in southern Africa.
The CBL was first established as the Lesotho Monetary Authority in 1978,
under the Lesotho Monetary Authority Act of 1978. It started its operations
on January 2nd 1980. The Central Bank of Lesotho is a statutory organisation
fully owned by the Government of Lesotho. The Central Bank enjoys a fair
amount of independence in formulating and implementing monetary policy. |
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The Governor,
who is also the chairman of the Board of Directors, together with the two
Deputy Governors, are appointed by His Majesty The King on the advice of the
Prime Minister. The Minister of Finance appoints the other Board Members.
The Mission
of the Central Bank of Lesotho is to implement appropriate monetary policy
and proffer sound financial and fiscal advice, for the well-being of the
country. The principal objective of the Central Bank of Lesotho, as
stipulated in the Central Bank of Lesotho Act of 2000, is to achieve and
maintain price stability. Other related objectives which are supportive to
this mission are: |
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To foster the liquidity, solvency and proper functioning of a stable
market-based financial system;
To formulate, adopt and execute the monetary policy of Lesotho;
To issue, manage and redeem the currency of Lesotho;
To formulate, adopt and execute the foreign exchange policy of Lesotho;
To own, hold and manage its official international reserves;
To act as a banker and advisor to, and as fiscal agent of the Government of
Lesotho;
To promote the efficient operations of the payments system;
To promote the safe and sound development of the financial system;
To monitor and regulate the capital market; and
To license, register and supervise institutions pursuant to the Financial
Institutions Act of 1999, the Money Lenders Order of 1989, and the Building
Finance Institutions Act of 1976, and the Insurance Act of 1976;
In achieving the functions as mentioned above, the Bank commits itself to
providing effective support functions through a sound banking and financial
control system, appropriate information system and the development of
competent and qualified staff.
The head office of the Central Bank is in Maseru, the capital city of
Lesotho.
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Central Bank of Lesotho |
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HQ
Address: |
Corner
Airport and Moshoeshoe Rd
Maseru Central
Lesotho |
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Tel: |
+266 2231 4281 |
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Fax: |
+266 2231
0051 |
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Website: |
www.centralbank.org.ls |
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Email: |
cbl@centralbank.org.ls |
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Currency: |
Maloti |
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Banking Hours: |
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Monday - Friday : 8.00am -
4.30pm |
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With the vision to provide the conditions for Central Bank to build a strong
economy by ensuring confidence and stability in the financial system in
Lesotho.
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List of banks in Lesotho
governed by the Central Bank of Lesotho |
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Bank Name |
Telephone |
Fax |
Website |
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Standard Lesotho Bank Ltd |
(266) 2231 5737 |
(266) 2232 4468 |
www.standardbank.co.ls |
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Nedbank (Lesotho) Ltd |
(266) 2231 2696 |
(266) 2231 0633 |
www.nedbank.co.ls |
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First National Bank of Lesotho |
(266) 2222 2200 |
(266) 2222 2222 |
N/A |
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Lesotho Post Bank |
(266) 2231 3170 |
(266) 2231 7832 |
www.lpb.co.ls |
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