The South African Reserve Bank was established under the Currency and Bank Act of 1920 and began operating on 30 June 1921 in Pretoria, making it Africa's oldest central bank and, at the time, only the fourth central bank founded outside Britain and continental Europe. It sets monetary policy, issues the country's banknotes and coins, manages South Africa's foreign exchange reserves, oversees the payment system, and acts as lender of last resort to the banking sector. Unusually for a modern central bank, it is a privately held institution whose roughly two million shares are distributed among some 696 shareholders, none permitted to hold more than 10,000 shares, though the South African government has announced plans to bring it into full state ownership.
Facts
Founding Year Founding Date Headquarters Geography
Country or Jurisdiction ServedWikidata Q912920, property P17 (country). Classification
Institution Subtype Connections
Member Of
South African Reserve Bank is one of the BIS's 63 member central banks and monetary authorities (Membership and shareholding structure table); the BIS has been wholly owned by its member central banks since the 2005 buyback of private shareholders.
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1. Wikipedia
Wikimedia FoundationSouth African Reserve Bank
It was established in 1921, through the promulgation of the Currency and Bank Act of 10 August 1920.
Introduction, institution-subtype
The South African Reserve Bank was established under the Currency and Bank Act of 1920 and began operating on 30 June 1921 in Pretoria, making it Africa's oldest central bank and, at the time, only the fourth central bank founded outside Britain and continental Europe.
Member Of: Bank for International Settlements, Bank for International Settlements, Membership and shareholding structure section
The BIS members are central banks of 63 jurisdictions: 34 in Europe, 16 in Asia, 5 in South America, 3 in North America, 3 in Africa, and 2 in Oceania.
View the Source 2. Wikidata
Wikimedia Foundation
Wikidata: South African Reserve Bank
Wikidata Q912920, class allow-list match (w-wdresolver-0926)View the Source Reader Challenges (0)
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