BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  South African Reserve Bank South African Reserve Bank The South African Reserve Bank is the central bank of the Republic of South Africa. The Bank was established in 1921 in terms of a special Act of Parliament, the Currency and Bank Act of 10 August 1920 (the Act) and was the direct result of the abnormal monetary and financial conditions which had arisen during and in the period immediately following World War I.   As the central bank of the Republic of South Africa, the primary purpose of the South African Reserve Bank is to achieve and maintain price stability in the interest of balanced and sustainable economic growth in South Africa. Together with other institutions, it also plays a pivotal role in ensuring financial stability. The South African Reserve Bank is convinced that it is essential that South Africa has a growing economy based on the principles of a market system, private and social initiative, effective competition and social fairness. It recognizes, in the performance of its duties, the need to pursue balanced economic development and growth. The Reserve Bank provides banking services to the central Government, although this function has been trimmed down after the Government began holding cash balances with other banks. The Reserve Bank does not provide banking services to provincial governments, local authorities or state enterprises. The Reserve Bank is, however, responsible for the movement of government balances to, from and between other banks. Such movements have an effect on the cash holdings of banks and, therefore, serve as a convenient additional instrument for managing the liquidity of banks. South African Reserve Bank HQ Address: 370 Church Street Pretoria 0002 South Africa Tel: +27 12 313 3911 Fax: +27 12 313 3197 Website: www.reservebank.co.za Swift Code: SARBZAJP Currency: Rand Banking Hours: Monday - Friday : 9.00am - 3.30pm   The Reserve Bank accepts that the credibility of its policy and actions is a prerequisite for the attainment of its goals and that such credibility can only be achieved and maintained through independent action, firmness of principle, resoluteness and fixed intent. The Reserve Bank ensures, through the application of modern management practices and technology, that all its activities are conducted effectively and efficiently.   List of banks governed by the South African Reserve Bank Local Control Banks » ABSA Bank Limited » FirstRand Bank Limited » Sasfin Bank Limited » African Bank Limited » Grindrod Bank Limited » The Standard Bank of South Africa Limited » Bidvest Bank Limited » Investec Bank Limited » UBANK Limited » Capitec Bank Limited » Nedbank Limited Foreign Control Banks » Al Baraka Bank Limited » HBZ Bank Limited » The South African Bank of Athens Limited » Habib Overseas Bank Limited » Mercantile Bank Limited Foreign Banks (Branches) » Bank of Baroda » Citibank N.A » Standard Chartered Bank » Bank Of China Limited » Deutsche Bank » State Bank of India » Bank of Taiwan South Africa Branch » JP Morgan Chase Bank » HSBC » Calyon Corporate and Investment Bank » Société Générale » The Royal Bank of Scotland » China Construction Bank Corporation
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