Reserve Bank of Zimbabwe
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The Reserve Bank of Zimbabwe is the central bank of Zimbabwe.
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[edit] History
The bank traces its history to the Bank of Rhodesia and Nyasaland, founded in March 1956, which in turn was the successor to the Central Currency Board.
The Reserve Bank has continued to function, and has grown in operations and staff, through a variety of changes in sovereignty and governmental structure in Rhodesia and Zimbabwe. The building in which it currently operates was officially opened by President Robert Mugabe on May 31, 1996.
[edit] Structure
The Reserve Bank of Zimbabwe Act provides for a Board of Directors and a Governor. The Governor, assisted by two deputy governors, is responsible for the day-to-day administration and operations of the bank.
The Governor and his two deputies are appointed by the president for renewable five-year-terms. The Governor also serves as chairman of the board. The board's membership includes the two deputies and a maximum of seven other non-executive directors, intended to represent key sectors of the economy.
[edit] See also
[edit] External links
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