The Talking PointUnderstanding the role of the Reserve Bank
What is the function of the South African Reserve Bank and how does it maintain financial stability in the country? Reliable archive material tells us that the South African Reserve Bank was established in 1921 as the central bank of South Africa in terms of a special act of Parliament. The Reserve Bank was mainly set up because of the need to issue uniform banknotes and to prevent the over-issue of banknotes. The primary or strategic objective of the bank is to achieve and maintain stable financial conditions in the country. Today, the Reserve Bank virtually performs the full range of functions and duties that are customarily carried out by central banks. But - is it fulfilling its mandate?
Guest: Ahmed Motiar – Author of ‘The Reserve Bank = A License to Steal Money from Citizens’?
Guest: Ahmed Motiar – Author of ‘The Reserve Bank = A License to Steal Money from Citizens’?
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