Reserve Bank of Malawi

Financial Sector Regulation (FSR)

Directives for Banks

These are designed with the view to guiding market players on proper functioning of the banks by following international best practices. Building on the relevant Acts, the directives and guidelines afford regulatory flexibility to address emerging issues that would not otherwise wait upon the review of the acts and so add value to the financial system

NOTE:Some documents on this page are in PDF Format. To view these you will need Adobe Acrobat Reader which you can download for free

Document Title Date Uploaded
Agent Banking Regulations 2018 Jan 24, 2019
Annual Audit Directive 2018 Jan 24, 2019
Asset Classification Directive 2018 Jan 24, 2019
Capital Adequacy Directive 2018 Jan 24, 2019
Consolidated Supervision Directive Jan 24, 2019
Credit Reference Bureau Regulation Jan 24, 2019
Disclosure of Credit Products Directive 2018 Jan 24, 2019
Fit and Proper Directive 2018 Jan 24, 2019
Foreign Currency Lending Directive 2018 Jan 24, 2019
Information Management Directive 2018 Jan 24, 2019
Large Exposure Directive Jan 24, 2019
Licensing Directive 2018 Jan 24, 2019
Prompt Corrective Action Directive Jan 24, 2019
Premises Inspection Directive 2018 Jan 24, 2019
Prudential Liquidity Directive 2018 Jan 24, 2019
Related Party Directive 2018 Jan 24, 2019
Risk and Governance Directive) Jan 24, 2019
Submission of Information Directive Jan 24, 2019
Supervisory Levy Regulations 2018 Jan 24, 2019
Consolidated Supervision for Banks Directive 2018 Jul 13, 2018
Disclosure of Information by Banks Directive 2018 Jul 13, 2018
Risk and Governance for Banks Directive 2018 Jul 11, 2018
Licensing of Banks Directive 2018 Jun 14, 2018
Asset Classification for Banks Directive 2018 May 11, 2018
Annual Audit of Banks Directive Apr 27, 2018
Capital Adequacy for Banks Directive 2018 Apr 27, 2018
Transactions of Banks with Related Parties Directive 2018 Apr 27, 2018
Premises Inspection Directive 2018 Apr 27, 2018
Disclosure Requirements for Credit Products Directive 2018 Apr 27, 2018
Fit and Proper Requirements Directive 2018 Apr 27, 2018
Foreign Currency Lending Ratio Directive 2018 Apr 27, 2018
Information Management for Banks Directive 2018 Apr 27, 2018
Prompt Corrective Action for Banks Directive 2018 Apr 27, 2018
Prudential Liquidity Requirements for Banks Directive 2018 Apr 27, 2018
Submission of Information by Banks Directive 2018 Apr 27, 2018
Licensing and Regulatory Requirements for Holding Companies Directive Apr 19, 2018

Guidelines for Banks

These are designed with the view to guiding market players on proper functioning of the banks by following international best practices. Building on the relevant Acts, the directives and guidelines afford regulatory flexibility to address emerging issues that would not otherwise wait upon the review of the acts and so add value to the financial system

NOTE:Some documents on this page are in PDF Format. To view these you will need Adobe Acrobat Reader which you can download for free

Licensing Requirements and Guidelines for Banks

The purpose of a vigilant licensing process is to protect the interests of depositors and the public and help minimise future bank failures by ensuring that only fit and proper players are allowed to conduct banking business in the country. Bank licensing policy helps ensure that only shareholders of appropriate standing and repute with adequate financial capacity are licensed to conduct banking business. Subject to this requirement, impediments to the entry of new players are kept to a minimum with the view to levelling the playing field and open up the system to fair competition and product innovation

Regulatory Framework for Pensions and Insurance

Document Title Date Uploaded
Insurance (Minimum Capital and Solvency Requirements for Life Insurers) Directive, 2017 Oct 11, 2017
Insurance (Minimum Capital and Solvency Requirements for General Insurers) Directive, 2017 Oct 11, 2017
Insurance (Minimum Capital and Solvency Requirements for Reinsurance Companies) Directive, 2017 Oct 11, 2017
Insurance (Classes of Insurance Business) Directive, 2017 Oct 11, 2017
Financial Services (Insurance Supervisory Levy) Regulations, 2017 Oct 03, 2017
Pension (Pensionable Emoluments) Directive, 2014 Sep 16, 2014
Pension (Payment of Benefits from Pension Funds) Directive, 2014 Sep 16, 2014
Insurance (Placement of Business Outside Malawi) Directive, 2014 Sep 16, 2014
Financial Services (External Auditors and Related Matters for Insurance Business) Directive, 2014 Sep 16, 2014
Financial Services (Licensing and Registation of Pension Entities) Directive, 2014 Sep 16, 2014
Insurance (Claims Management) Directive, 2014 Sep 16, 2014
Minimum Capital and Solvency Requirements for General insurers Directive Jul 27, 2011
Minimum Standards on Corporate Governance for Insurance Companies Directive Jul 15, 2011
Premium Payments to General Insurance Companies Directive Jul 15, 2011
Risk Management Framework for Insuance Companies Directive Jul 15, 2011
Suitability of Persons Associated with Ownership and Management of Insurers and Insurance Brokers Directive Jul 15, 2011
DIRECTIVE NO. RI05-08/MC&SRR - Minimum Capital and Solvency Requirements for ReInsurers Apr 13, 2011
DIRECTIVE NO. RI04-08/MC&SRL - Minimum Capital and Solvency Requirements for Life Insurers Apr 13, 2011
DIRECTIVE NO.RI01-07/FRRG-Financial Reporting Requirements For General Insurance Business Apr 13, 2011
DIRECTIVE NO.RI02-03/FRRL01-Financial Reporting Requirements For Life Insurance Business Apr 13, 2011
DIRECTIVE NO..RI04-07/FRRR-Financial Reporting Requirements For Reinsurance Business Apr 13, 2011