The Act repeals Nursing & Midwifery Order 19 of 1993 and makes ... 23251121. The Bank of Botswana has compiled a set of documentation referred to as the ‘Application Package for a Banking Licence'. Fax: (267) 3913862 (2) Where a payment under sub regulation (1) is made after a period not exceeding 12 months after the expiry of a licence, the Bank shall impose a penalty in accordance with sub regulation (3). An Act to provide for the regulation of non-bank financial institutions for the purpose of enhancing the safety and soundness of non-bank financial institutions, setting high standards of conduct of business by non-bank financial institutions, improving the fairness, efficiency and orderliness of the non-bank financial sector and the stability of Non-Bank Financial Institutions Regulatory Authority (NBFIRA) NBFIRA is an independent regulatory agency for the non-bank financial institutions. (1) For the purposes of section 37 (1) of the Act, a specifiedparty or accountable institution that through a wire transfer, receives into or sends out of Botswana, an amount equal to or above P10 000, on behalf or on the instruction of a customer or any person, shall report to the Agency such transaction. 2. An Act to provide for the establishment of the Bank of Botswana, its constitution, objectives and powers; to regulate the issue of Bank notes and coins; to provide for certain matters connected with banking, currency and coinage, and for matters connected therewith and incidental thereto. Bank of Botswana Act (Cap. 46:04), Banking Regulations 1995, Bureaux de Change Regulations 2004 and relevant directives, policies and guidelines. Home | Terms & Conditions | Privacy Statement | Publishing Services | Blackhall Publishing | Contact Us | Sitemap. 13 of 1995) BANKING (ANTI-MONEY LAUNDERING) REGULATIONS, 2003 (Published on 17th April, 2003) ARRANGEMENT OF REGULATIONS REGULATION 1. In this Act, unless the context otherwise requires — "agent" includes any person employed by or acting for another; "Deputy Director" means a … 14.05. (1) The principal objectives of the Bank shall be-. Bank of Botswana Act < Prev. (2) The Board may make Bye-Laws and issue directives and instructions to regulate the conduct of the business of the Bank, and may delegate its powers to the Governor or to such committees as the Board may establish. A complete application package can be obtained on request from the Banking Supervision Department. Plot 50671 Independence Avenue. In relation to the financial sector, the Bank seeks to foster market integrity, competition, fair business practices and a high standard of governance through consultation and open communication with market players. PART IIICapital, Profits and Reserves (ss 5-7). Financial Intelligence Act. 46:04) and Section 3 of the Banking Regulations, 1995. Requirements for obtaining a Banking Licence An “Application Package for a Banking Licence” is available from the Bank of Botswana on request. T : +267 395 7755. (2) The Governor and the Deputy Governors, who shall be persons of recognised experience in financial matters, shall be appointed for a term not exceeding five years, and shall be eligible for re-appointment. Board of Directors 2. Copyright 2015. To achieve this objective, the Bank is guided by the Bank of Botswana Act (Cap. (2) In the attainment of the objectives set out in subsection (1), the Bank shall have and may exercise all the powers generally conferred upon a central bank. Excluding or limiting application of Act 19. Blackhall Publishing. Websitewww.bankofbotswana.bw. Requirements for a banking licence include: Regulates and supervises the BSE, The Central Securities Depository Company of Botswana (CSDB) and the four licensed stockbrokers in conjunction with the BSE. Act 612 Bank of Ghana Act, 2002 (3) An instrument issued under subsection (2) may include provisions relating to inspection; management audit; and any other aspect of operation of non-banking institutions. 46:04); "Governor" means the Governor of the Bank appointed under section 13; "legal tender" means currency which, legally, cannot be refused to settle debt or to effect payment at an agreed price; "member" means a member of the Board and includes the Governor; "officer" means an employee of the Bank who is authorised by the board to sign legal or other documents on behalf of the Bank; "public issue" means any financial instrument issued or guaranteed by Government, which members of the public are eligible to hold. 46:04), Banking Regulations 1995, Bureaux de Change Regulations 2004. Opening accounts for other institutions, etc. (2) Any net losses incurred by the Bank in any financial year shall, after the Bank has advised Government thereof, be charged first to the General Reserve and then to the Capital. (1) The authorised capital of the Bank shall be P25 000, 000. "Bank" means the Bank of Botswana established under section 3; "Board" means the Board of the Bank established under section 8; "Deputy Governor" means a deputy governor appointed under section 13; "financial institution", "bank" and "licensed" shall have the same meanings ascribed thereto under the Banking Act (Cap. 55:01), and Bank of Botswana (Bureaux de Change) Regulations (1) The President shall appoint a Governor of the Bank and such number of Deputy Governors as he may consider necessary. The bank is 100 percent owned by the government of Botswana. (4) The members appointed under this section shall be entitled to such fees and allowances as may be determined by the Board with the approval of the Minister. The publishers assume no responsibility for and give no guarantees, undertakings or warranties concerning the accuracy, completeness or up-to-date nature of the information provided in this publication and/or for any consequences of any actions taken on the basis of the information provided, legal or otherwise. Revision Date: 1 Jan 2002. (2) Government shall be the sole subscriber to and holder of the capital of the Bank, and its holdings of such capital shall not be transferable in whole or in part or be subject to any encumbrance whatsoever. Whilst every effort has been made to ensure the accuracy of the information contained in this publication, nevertheless it is possible that errors or omissions may have occurred in the content. CAP. Manufacture and characteristics of notes and coins, 28. This Act may be cited as the Bank of Botswana (Amendment) Act, 1987. 46:04), Banking Regulations 1995, Bureaux de Change Regulations 2004 and relevant directives, policies and guidelines. Week 1094. These businesses are licensed to give members of the public assurance that the businesses are operating prudentially and in … Maximum amounts of foreign currency holdings or loans, PART VIIIRegulation of Companies which have Applied for or been Issued with a Tax Certificate, 54. (1) The Bank shall establish and maintain a General Reserve sufficient to enable it to accomplish its principal objectives, the amount of which General Reserve shall be determined from time to time by the Board in consultation with the Minister. E-mail: motumisel@bob.bw, 17938, Khama Crescent, Gaborone, Botswana, 9597, Thapama Circle, Francistown, Botswana, Information and Communications Technology, Bank of Botswana Savings and Credit Cooperative Society Limited, History of Exchange Rate Policy in Botswana, Global and Regional Developments on Financial Stability, Regional Consultative Group For Sub Saharan Africa (RCG-SSA), Bank For International Settlements (Committee on the Global Financial System), International Monetary Fund (Global FSR; World Economic Outlook; FSIs), The World Bank (Global Financial Development Report), European Central Bank (Financial Stability Review), Investigations of Illegal Deposit-Taking Activities, Oversight of the National Payments System, Market Statistics - Money Market Operations, Statement of Legal Authority and Governance. , 28 Settlement Systems Act 5, 2003 Insurance Regulations 2007 the General reserve funds. Government, 55 a set of documentation referred to as the Corruption Economic. 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