Micro-Finance & Capital Markets Supervision
The Microfinance and Capital Markets Supervision department is responsible of regulating and supervising microfinance inclusive financial cooperatives and capital markets financial institutions.
Mission Statement & Vision
The Microfinance and Capital Markets Supervision Department exists to contribute towards achievement of Reserve Bank of Malawi's objective of promoting sound and stable financial system in Malawi. As a department, we aim at supervising microfinance and capital markets institutions to ensure that they are operated in a sound and viable manner so as to develop and maintain public confidence in the financial sector. In this regard, the department's primary responsibility is to protect the interest of the public by administering a regulatory and supervisory regime that is in line with generally accepted international standards that promote transparency and fairness in the operating environment and encourage microfinance and capital markets financial institutions to confine their risk taking to acceptable levels.
In pursuance of the mission statement outlined above, the department performs its work with professionalism, integrity, impartiality, and in a friendly and cooperative manner but without compromising its authority or mandate.
The department has six key result areas namely:
- entry control
- on-going supervision
- policy development
- enhancement of competition
- consumer education and protection
- exit administration
All these areas cut across the two divisions of the department, microfinance on one hand and capital markets on the other.
P.O. Box 565
Phone: 01 820299/444
Fax: 01 830 628
Supervision of the Micro-Finance
The Financial Services Act, 2010 and the Microfinance Act, 2010 are legal frameworks that govern the regulation and supervision of microfinance sector in Malawi. In addition to the laws, Guidelines and Directives on various specific issues are issued to complement the laws.
The division monitors performance of microfinance institutions through continuous off-site surveillance of all licensed microfinance institutions using financial statements and other operational information submitted by the regulated institutions on a periodic basis. The department also conducts periodic onsite examinations mainly as a follow up on to the off-site findings.
|Microfinance Deposit Taking Institutions Directives (2014)||Nov 21, 2014|
|Microcredit Agency Directive 2012||Jun 15, 2012|
|Non-Deposit Taking Microfinance Institutions Directive 2012||Jun 15, 2012|
|Financial Services Act 2010||Mar 10, 2011|
|Microfinance Act 2010||Jul 29, 2010|
|APPLICATION FOR LICENCE TO OPERATE A NON-DEPOSIT TAKING MICROFINANCE INSTITUTIONS||Jun 26, 2012|
|APPLICATION FOR REGISTRATION AS MICROCREDIT AGENCY||Jun 26, 2012|
The department is also entrusted with the responsibility of regulating and supervising financial cooperatives. Registration of financial cooperatives is done by the Registrar of Cooperatives under the Cooperatives Societies Act, 1998 while licensing is done by the Registrar of Financial Institutions under the Financial Services Act, 2010. The Financial Cooperatives Act, 2011 is the legal framework that governs the operations of financial cooperatives in Malawi.
|Provisionally Licensed SACCOs||Nov 06, 2014|
Supervision of Capital Markets
The Financial Services Act, 2010 and the Securities Act, 2010 are the legislative frameworks that govern the regulation and supervision of capital markets. Under these legal frameworks the Registrar of Financial Institutions is mandated to license and supervise the securities exchanges, brokers, dealers, portfolio managers, market makers, investment advisers and underwriters.
The key regulatory objectives are to protect investors, ensuring that markets are fair, efficient, and transparent; and reduce systemic risk. In this regard the division ensures that all capital market institutions observe high standards of commercial honour and apply just and equitable principles of fair trade to ensure maintenance of fair and orderly market. The division also examines trading practices in the capital market to ensure prevalence of fair, orderly and efficient market conditions and; ensures that investors are adequately protected in order to maintain confidence in the capital market.
|Application Form For Broker Dealer Licence||Mar 29, 2011|
|Application Form For Collective Investment Scheme Licence||Mar 29, 2011|
|Application Form For Investment Adviser Licence||Mar 29, 2011|
|Application Form For Portofolio Manager Licence||Mar 29, 2011|
|Application Form For Renew Of Broker Dealer Licence||Mar 29, 2011|
|Application Form For Renew Of Investment Adviser Licence||Mar 29, 2011|
|Application Form For Renew Of Portofolio Manager Licence||Mar 29, 2011|
|Application Form For Renew Of Securities Representative Licence||Mar 29, 2011|
|Application Form For Securities Representative Licence||Mar 29, 2011|
|Application Form For Transfer Secretary Licence||Mar 29, 2011|
|Application Form For Renewal Of Transfer Secretary Licence||Mar 29, 2011|
|Financial Institutions Supervision Annual Report 2016||Oct 02, 2017|
|Financial Institutions Supervision Annual Report 2015||Nov 11, 2016|
|Financial Institutions Supervision Annual Report 2014||Sep 09, 2015|
|FINANCIAL SECTOR SUPERVISION ANNUAL REPORT 2013||Oct 28, 2014|
|Microfinance and Capital Markets Financial Sector Report 2010||Mar 19, 2012|
|Non Bank Financial Sector Annual Report 2009||Mar 30, 2011|
|Investing in Collective Investment Scheme||Jan 16, 2018|
|Retirement Planning||Jan 15, 2018|
|Personal Debt Management||Jan 09, 2018|
|How to Open a Bank Account||Jan 09, 2018|
|Investing in Shares||Jan 09, 2018|
|Investing in Treasury Bills||Jan 09, 2018|
|Investing||Jan 09, 2018|
|Life Insurance||Jan 09, 2018|
|Payments Systems in Malawi||Jan 09, 2018|
|Savings||Jan 09, 2018|
|Microfinance||Jan 09, 2018|
|Savings and Credit Cooperative Society (Sacco)||Jan 09, 2018|
|Personal Money Management Skills - Budgeting||Jan 09, 2018|