mmegi

BoB engages consultant to boost interbank activity

Deal done: BoB and Frontclear representatives signing the MoU on Monday
Deal done: BoB and Frontclear representatives signing the MoU on Monday

The Bank of Botswana (BoB) has signed a Memorandum of Understanding with international finance development company, Frontclear, to boost the local market’s weak interbank activity.

Under the agreement signed this week in Gaborone, the central bank will work hand in hand with Frontclear on drafting a money market diagnostic framework, a policy that will guide money market operations in the country.

The local money market is a component of the economy that deals with the trading of short-term debt and currencies between financial institutions. Conventionally in Botswana, the trading of currencies and short debt options between local banks has been plagued by low activity due to the central bank’s heavy involvement.


Editor's Comment
No room for perjury

It seems some government accounting officers, sworn to tell "the truth, the whole truth, and nothing else but the truth" before Almighty God, may have deliberately lied during the committee’s vital work. If proven, this is not merely unprofessional; it is perjury, a serious criminal offence and it strikes at the very heart of responsible government.The PAC’s role is fundamental. After each financial year, it painstakingly examines how public...

Have a Story? Send Us a tip
arrow up