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Financial Markets

The Financial Markets Division’s main activity is to ensure, efficient and sound management of foreign exchange reserves, payment systems, banking operations and development of the domestic money and capital markets. It has four Departments namely Banking Operations, International Banking and Portfolio Management, Money and Capital Markets and National Payment Systems.

 

The Division’s main strategic objectives are:-

  • To ensure efficient and sound management of foreign reserves;
  • To oversee, administer and promote the development of  efficient payment systems;
  • Development, diversification and deepening of money and capital markets; and
  • Provision of effective banking services to clients.

 

Banking Operations

The Department’s major objective is the provision of efficient banking services to its clients, notably the Government, Financial Institutions and other internal customers

 

Money and Capital Markets

The main objective of the department is to develop, diversify and deepen money and capital markets through managing the credit and accommodation windows by performing the Lender of Last Resort function as enshrined in the Reserve Bank of Zimbabwe Act [Chapter22:15]. It is also mandated with the issuance of Government securities as well as assisting in the management of the country’s domestic debt. Ordinarily undertakes Open Market Operations.

 

International Banking and Portfolio Management

The main objective of the Department is to ensure the efficient and sound management of foreign exchange reserves and mobilisation of foreign lines of credit. It carries out its mandate through:-

  • effecting foreign exchange transactions;
  • analysis of trends and developments in the domestic and international foreign exchange markets;
  • Management of foreign exchange cash flow, reserves and other foreign commitments;
  • Negotiating, arranging and evaluation of offshore facilities and structured finance;
  • Undertaking Debt sustainability analysis;
  • Formulating investment policies and guidelines.

 

National Payments Systems

The main objective of the Department is to promote the smooth operation of the payment systems as enshrined in the National Payment Systems Act [Chap: 24:23]. It is mandated to formulate and implement policies to promote the establishment, regulation and oversight of safe, sound and efficient payment, clearing and settlement systems in the country.

 

The Department’s core deliverables are:-

  • Ensure payment, clearing and securities settlement systems have a sound legal basis,
  • Ensure safe, sound and efficient payment, clearing and securities settlement systems.
  • Ensure finality and irrevocability of settlement, while facilitating the circulation of money in the economy.
  • Guide the evolution of payment systems in Zimbabwe and ensure developments take place in a collaborative and coordinated manner.
  • Ensure that payment systems are effectively used as a mechanism to promote electronic transactions, consumer protection, interoperability and financial inclusion in the country.

 

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