Financial Markets Department

The financial markets department predominantly is responsible for managing the country`s foreign currency assets commensurate with three investment objectives namely; capital preservation, liquidity and income generation. The division also issues short and long term government debt securities via open market operations to contribute to the bank`s monetary policy framework. This entails the structuring, auctioning and settlement of short & long dated securities.

The financial markets department is divided into three units namely; front office which is tasked with mainstream investing of reserves; middle office which oversees the investment process through risk management, compliance monitoring and reporting; and back office which offers auctioning of government security services as well as settlement of investments.

DIVISIONS

1. RESERVES MANAGEMENT AND DOMESTIC MARKETS
2. RISK MANAGEMENT AND COMPLIANCE
3. TREASURY OPERATIONS

1. RESERVES MANAGEMENT AND DOMESTIC MARKETS

   FUNCTIONS

   • Manage the country's Foreign Exchange Reserves
   • Act as agent for Government in issuance and redemption of Government Securities
   • Contribute to monetary policy formulation & Implementation
   • Make contribution to development of local financial markets
   • Domestic market development
   • Central Securities Depository Management
   • Manage CBS balance sheet (assets & liabilities)
   • Streamlining/modernizing operations
   • Act as Banker to Government (International Banker/Treasury Services)
   • Provide treasury services to Government (all foreign currency payments & receipts)
     

2. RISK MANAGEMENT AND COMPLIANCE

3. TREASURY OPERATIONS

   FUNCTIONS

   • Payment & Settlement Systems Operation and Monitoring (RTGS/SWIPPS, Automated Clearing House, Regional Payment System (SADC & COMESA)
   • Payment & Settlement Systems Oversight (Electronic money transfers e.g MTN Mobile Money, Remittances e.g. Shoprite/Standard Bank Money Transfer)

   The operations of this department also assist to drive the implementation of the country's FSDIP to achieve financial inclusion targets.