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South African Reserve Bank

Financial Services 

The Financial Services Department's mission is to ensure sound financial management in the Bank and to provide centralised financial administration, banking, procurement and insurance services.
Its responsibilities include:
  • Providing banking services to the Bank itself and its subsidiaries, the central government and other clients;
  • Managing the Corporation for Public Deposits;
  • Administering the financial accounting and reporting functions for the Bank and SARBCIC;
  • Administering the company tax for the Bank and SARBCIC;
  • Managing the SWIFT system;
  • Administering the domestic payments and receipts of the Bank;
  • Administering the capital and operational budgets of the Bank;
  • Administering the Accounts Payable function of the Bank;
  • Administering the remuneration function;
  • Administering the Retirement Fund of the Bank;
  • Managing the procurement function of the Bank;
  • Providing insurance services to the Bank and its subsidiaries;
  • Managing the South African Reserve Bank Captive Insurance Company Limited (SARBCIC); and
  • Liaising very closely with the South African payments and settlements industry.
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