Developing an Independent Regulatory Framework for the Financial Sector in Malaŵi
102 Pages Posted: 29 Nov 2014
Date Written: May 2011
Abstract
Regulation of the financial sector has always been a prime concern of states and the regulatory bodies which usually put in place. This work undertakes an overview of Malaŵi's financial sector and the dominance of banking. It discusses regulatory models and concludes that Malaŵi has a silo regulatory matrix. It distinguishes regulation and supervision and notes that in most jurisdictions these powers reside in the same body. It analyses the independence of the financial regulator and concludes that the regulator in Malaŵi is under the direct control of the political executive, factually and legally. It proposes a regulatory framework which takes cognizance of the political economy of the country. It also offers solutions on how some of the projected bottlenecks or hurdles can be overcome.
Keywords: Regulation, Financial Services, Regulatory Independence, Malaŵi, Malawi
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