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South African Reserve Bank

Financial Markets Liaison Group – FMLG 

The Financial Markets Liaison Group (FMLG) is a consultative forum and was established as a joint initiative between the South African Reserve Bank (SARB), as the central bank, and key participants in the financial markets. The FMLG strives to facilitate an active dialogue between the SARB and market participants on topics of common interest and acts as a valuable platform to exchange views on market functioning. 
The Deputy Governor of the SARB responsible for markets and international chairs the FMLG meetings.  Membership of the FMLG comprises senior representatives from the major domestic banks, the International Banking Association, the National Treasury and various departments of the SARB. Representatives from the Prudential Authority, the Banking Association of South Africa, the Association for Savings and Investment South Africa, the exchanges, the central securities depositories, and other relevant parties are invited occasionally to present on topics of particular interest.
The FMLG meetings are held semi-annually, as a means for the SARB and market participants to maintain regular contact at senior level. Special FMLG meetings are convened when specific issues need to be discussed as a matter of urgency.
The FMLG structure provides for sub-committees that undertake projects and report to it on a regular basis. The FMLG sub-committees are:
  • Money Market Sub-committee;
  • Fixed Income and Derivatives Sub-committee; and
  • Financial Markets Infrastructure Sub-committee.  
Contact details:
Deputy Governor Markets and International
Ms F Tshazibana
+27 12 399 6484
Meeting Secretary
Mr E Makgopa
+27 12 313 4124







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