The Reserve Bank of Malawi has cleared itself on forex implication during a meeting with Public Account committee of parliament.
The governor of the Reserve Bank of Malawi (RBM), Wilson Banda during an interview said RBM has bought about 20 kilograms of gold from small scale miners at K900 million. These remarks were made as he was summoned to explain the operation of the export development fund to the public committee of the parliament.
He further said that the forex will be kept by the RBM as national treasure. Speaking to the deputy governor, Grant Kabango says it is not the duty of the RBM to generate forex but to manage it on foreign exchange.
Kabango however said there are a lot of institutions that the market have the ability to generate forex and not RBM and RBM has the role to manage the forex.
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This is a nice write up
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NYC story
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Nice one
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This is a nice write up keep it up
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Good story
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Well written
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I like this story
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Nice one
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Thank you
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Well written big up. Government should make sure that forex is plenty for proper international trade.
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Thanks boss
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Wow very nice I love this well analysis.
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Well written
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