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Reserve Bank Of Malawi

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Reserve Bank Of Malawi

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It replaced a branch of the Federal Bank of Rhodesia and Nyasaland founded to serve as a central bank of the Federation of Rhodesia and Nyasaland.
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The Reserve Bank of Malawi was established under an Act of Parliament in July 1964 (Chapter 44:02 Laws of Malawi) and started its operations in June, 1965 in Blantyre. Historical Background
The Reserve Bank of Malawi was established under an Act of Parliament in July 1964 (Chapter 44:02 Laws of Malawi) and started its operations in June, 1965 in Blantyre. The federation comprised Southern Rhodesia (now Zimbabwe), Northern Rhodesia (now Zambia) and Nyasaland (now Malawi). At inception, the Bank had total assets amounting to K15.96 million with foreign assets amounting to K15.2 million an equivalent of £8.8 million, representing 18.1 percent of the federal currency which was redeemed in Malawi. By 1981, the year its head office moved to Lilongwe, the Reserve Bank of Malawi had expanded its operations when total assets increased to K230.7 million with foreign assets amounting to K43.9 million. In April, 1989, the Reserve Bank of Malawi (RBM) Act was revised stipulating the Bank's principal functions which are in the interest of the national economy and are in line with the economic policies of the government. Before the revision of the Act, the Reserve Bank of Malawi reported to the Treasury. The 1989 RBM Act, however, made the Reserve Bank of Malawi independent from government under section 4. With this independence, the Reserve Bank of Malawi has the full mandate to conduct monetary policy whereas fiscal policy issues are the mandate of the Ministry of Finance. The Reserve Bank of Malawi therefore has to ensure that fiscal developments are consistent with monetary developments. In 1990, the Reserve Bank of Malawi clocked 25 years of its operations with total assets amounting to K1.03 billion and foreign assets accounting for K324.5 million. By the close of 1998, total assets of the Bank registered a high of K18.8 billion with foreign assets amounting to K11.3 billion. The operations of the Bank have therefore expanded during the years more especially with the growth of the financial sector. This necessitated the building of a new and spacious branch office in Blantyre which was officially opened in November, 1998. During its time of operation to date, the Bank has had the following Governor's, namely:

Dr. Wilson T. Banda July 2020-Present
Dr. Dalitso Kabambe 2017-July 2020
Charles Chuka 2012-2017
Dr. Perks Ligoya 2009-2012
Victor Mbewe 2005-2009
Dr. E.E. Ngalande 2000-2005
Dr. M.A.P. Chikaonda 1995-2000
F.Z. Pelekamoyo 1992-1995
Hans Joachim Lesshafft 1988-1992
S.C. Hara 1986-1988
L.C. Chaziya 1984-1986
J.Z.U. Tembo 1971-1984
D.E. Thomson 1968-1971
A.G. Perrin 1968

MISSION AND VISION
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MISSION
To maintain price and financial stability through formulation and implementation of sound monetary and macro-prudential policies

VISION
To be a central bank of excellence that promotes macroeconomic stability for sustainable economic development in Malawi

CORE VALUES
>Transparency
>Integrity
>Professionalism
>Innovation
>Team Work
>Efficiency
"TIPITE" - We will forge ahead and others will follow voluntarily

09/10/2026

RBM CALLS FOR STRONGER COMPLIANCE AS DIGITAL FINANCE EXPANDS

The Reserve Bank of Malawi (RBM) has called on financial institutions to place compliance, good governance and risk management at the centre of digital transformation as emerging technologies continue to reshape the country's financial sector.

Speaking at the 2026 Financial Industry Compliance Conference in Mangochi on 9 October 2026, RBM Director of Bank Supervision, Ms Chimwemwe Kachingwe, emphasized that innovation must progress alongside accountability, consumer protection and institutional resilience.

Ms Kachingwe highlighted that digital payments, mobile banking, artificial intelligence, cloud computing, advanced analytics and fintech partnerships have expanded access to financial services, lowered transaction costs and improved operational efficiency.

She noted that while technology is transforming the financial landscape, its benefits can only be fully realised when supported by sound governance structures and effective risk management practices. In this regard, she urged financial institutions to ensure that compliance remains a core component of their digital transformation strategies.

Echoing these sentiments, Bankers Association of Malawi Chief Executive Officer Mrs Lyness Nkungula described compliance as the foundation of trust, stability and resilience in the financial industry. She said strong compliance frameworks safeguard institutions and consumers while enabling responsible innovation, effective governance and inclusive economic growth across Malawi.

The conference, organised by the Bankers Association of Malawi under the theme “Strengthening Compliance and Governance in a Dynamic Regulatory Environment,” has brought together regulators, financial-sector leaders, and risk and compliance professionals.

06/10/2026

RBM CALLS FOR STRONGER REGIONAL COOPERATION TO SAFEGUARD FINANCIAL STABILITY

The Reserve Bank of Malawi (RBM) has called for stronger regional cooperation, consistent supervision and closer coordination among financial regulators as cross-border institutions and risks become increasingly interconnected.

Speaking on 6 October 2026 at the opening of the 49th Committee of Insurance, Securities and Non-Banking Financial Authorities (CISNA) Annual General Council Meeting in Lilongwe, RBM Governor Dr. George Partridge said national markets require a collaborative regional response to protect financial stability and support economic development.

The Governor said non-bank financial institutions including pension funds, insurers and cooperative-based entities play a crucial role in mobilising long-term capital, widening access to finance and directing domestic savings towards productive sectors.

He further noted that the increasing scale, sophistication, and interconnectedness of non-bank financial institutions present opportunities to further strengthen regulatory approaches through responsive, proportionate, and well-coordinated frameworks.

Dr. Partridge described CISNA as an important part of the region’s supervisory infrastructure and urged it to continue strengthening knowledge sharing, institutional capacity and the harmonisation of legal frameworks, regulatory standards and supervisory practices across the Southern African Development Community.

His sentiments were echoed by the Minister of Industrialization, Business, Trade, and Tourism, Hon. Simon Itaye who urged CISNA members to build a resilient, transparent and inclusive financial systems that protect people’s savings, connect long-term capital to productive development and enable regulators to tackle cross-border, climate and digital risks together.

Taking his turn, CISNA chairperson Mr. Kenneth Matomola noted that the role of its members is not only to regulate the financial sector today, but also to prepare institutions, markets and economies for the financial sector of tomorrow. He therefore urged members to build a CISNA that is not only responsive to change, but capable of anticipating change and shaping the future.

CISNA is the Committee of Insurance, Securities and Non-Banking Financial Authorities, responsible for harmonizing and supervising non-banking financial sectors across SADC member states.

04/10/2026

The Reserve Bank of Malawi (RBM) in conjunction with Committee of Insurance, Securities and Non-Banking Financial Authorities (CISNA) invite the public to a Public Conference on the theme: "BREAKING BARRIERS TO A DEEP AND BROAD FINANCIAL SYSTEM IN THE SADC REGION."

The conference forms part of the 49th CISNA Annual General Meeting and will bring together leading experts and industry practitioners to discuss key issues shaping the financial sector within the SADC region.

DATE: Thursday, 8 October 2026

TIME: 08:00hrs - 17:30hrs

VENUE: Bingu wa Mutharika International Convention Centre (BICC), Lilongwe, Malawi

The conference will feature a keynote address by Dr Kwanele Ngwenya, Deputy Group Managing Director of NICO Group of Companies, alongside distinguished speakers from the financial, technology, development, and regulatory sectors.

Discussion Topics:

 Virtual Assets and Digital Finance:
Opportunities, Risks and Regulation

 Strengthening Cybersecurity Resilience in the Non-Bank Sector

 Mobilising Debt Capital Markets for Infrastructure Development

 Agriculture and Rural Credit Expansion: Role of Non-Bank Regulators.

Attendance to the conference is strictly by registration.

Those intending to participate are requested to register by:
Sending an email to [email protected], or
Scanning the QR code on the poster.

For more information on the programme, speakers and venue, visit: www.rbm.mw/crams/conference

We look forward to your participation

01/10/2026

The Reserve Bank of Malawi in conjunction with the CISNA Secretariat will host the 49th SADC Committee of Insurance, Securities and Non-Banking Financial Authorities (CISNA) General Meeting under the theme:
“Breaking Barriers to a Deep and Broad Financial System in the SADC Region.”

The General Meeting will take place from 4 to 9 October 2026 at the Bingu International Convention Centre (BICC) in Lilongwe, Malawi, with a Public Conference slated for Thursday, 8 October 2026.

The General Meeting aims to foster regional collaboration and identify practical strategies for strengthening financial inclusion, enhancing market development, and promoting sustainable economic growth across the SADC region.

28/09/2026

Public Notice on the Cessation of Cheque Usage in Malawi

28/09/2026

INSURANCE PROTECTS YOU FROM LIFE’S UNEXPECTED EVENTS, BUT STAYING COVERED ALSO DEPENDS ON YOU.

The Fair Treatment of Consumers Directive 2024 protects your rights as a policyholder.

To help your insurance work when you need it most:

• Read and understand your policy, including its benefits, exclusions and risks.

• Pay premiums on time. A policy may be terminated after three months of non-payment, and claims may be rejected without a refund.

• Provide accurate and truthful information. Misrepresentation or false claims may lead to denied benefits and legal consequences.

• Value insured property accurately to avoid under-insurance or over-insurance, which can affect claim payouts.

• Tell your insurer about important changes, keep copies of documents and receipts, and report claims promptly.

Watch the video to learn how responsible policy management can help you stay protected.

BE INFORMED. BE HONEST. STAY COVERED.

For more information, contact the Reserve Bank of Malawi on the toll-free line 459 or email [email protected].

23/09/2026

INVITATION TO BID

SUPPLY AND DELIVERY OF CATERING EQUIPMENT

22/09/2026

DID YOU KNOW? YOUR RIGHTS AS A FINANCIAL CONSUMER ARE PROTECTED.

When dealing with banks, insurance companies, microfinance institutions, pension providers, and other financial institutions regulated by the Reserve Bank of Malawi, you have the right to be treated fairly, honestly, and with respect.

The Reserve Bank of Malawi is committed to promoting a fair and transparent financial system where consumers are protected.

Under the Financial Services Act, 2010 and the Financial Services (Fair Treatment of Consumers) Directive, 2024, financial institutions are required to:

Provide clear and accurate information about their products

Avoid hidden fees and misleading practices

Treat all consumers fairly and without discrimination

Explain terms and conditions in simple language

Protect your personal information and honor contractual commitments.

As a consumer, you also have a role to play.
BE INFORMED. ASK QUESTIONS. SEEK CLARIFICATION WHEN NEEDED. FULFILL YOUR CONTRACTUAL OBLIGATIONS. AND STAY ALERT TO FINANCIAL SCAMS.

Your money matters. Your voice matters. Your rights matter.

Watch the video to learn more about your rights and responsibilities as a financial consumer.

Contact the Reserve Bank of Malawi through the toll-free line 459, for more information.

21/09/2026

DID YOU KNOW THAT BEING SELF-EMPLOYED DOES NOT MEAN MISSING OUT ON PENSION BENEFITS?

A Voluntary Personal Pension Fund (VPPF) allows entrepreneurs, traders, consultants, farmers, artisans, and other self-employed individuals to save for retirement while building long-term financial security.

By contributing to a pension fund, you can:

Build a reliable source of income for your retirement.

Provide financial security for your loved ones in the event of untimely death.

Benefit from a structured savings arrangement, with contributions allocated between a savings account and a pension account.

Grow your pension benefits through contributions and investment returns over time.

Whether you are just starting your business or have been self-employed for years, it is never too early or too late to begin planning for a financially secure retirement.

Contact any pension services company to learn more about joining a voluntary pension scheme and start investing in your future today.

18/09/2026

CONSUMER PRICE INDICES FOR AUGUST 2026 SHOW CONTINUED DISINFLATIONARY PROGRESS.

Headline inflation has declined to 20.0%, down from 20.8% in July, while both food inflation (13.4%) and non-food inflation (31.8%) also registered further decreases.

This sustained downward trend reflects improving price stability across the economy and underscores the effectiveness of ongoing macroeconomic policies.

While inflation remains elevated, the continued moderation in price pressures is a positive development for households, businesses, and investors.

The Reserve Bank remains committed to maintaining monetary and financial stability and will continue implementing policies that support a stable economic environment, sustainable growth, and increased confidence in Malawi's markets.

Address

P. O Box 30063, Lilongwe 3
Lilongwe
207216

Opening Hours

Monday	07:30 - 17:00
Tuesday	07:30 - 17:00
Wednesday	07:30 - 17:00
Thursday	07:30 - 17:00
Friday	07:30 - 17:00

Telephone

+2651770600

Website

https://www.rbm.mw/

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