President Jacob Zuma has appointed Professor Firoz Cachalia as a non-executive director to the Board of the SARB, with effect from 16 July 2012.Professor Cachalia has been appointed to this position for a period of three years in terms of section 4(1)(a) read together with section 5 (1) (b) of the South African Reserve Bank Act of 1989, which provides for appointment by the President, in consultation with the Minister of Finance, of four non-executive directors to the SARB Board.Currently a Professor at the University of Witwatersrand School of Law, he holds a Bachelors Degree in Humanities, a BA (Hons) in Industrial Sociology, an LLB, a Higher Diploma in Company Law and various Masters Degree courses including Banking Law from the University of Witwatersrand. Prof Cachalia also holds a Masters Degree in Law from theUniversity of Michigan.  The President congratulated Professor Cachalia and wished him well in fulfilling his new responsibilities. Governor Gill Marcus welcomed the appointment and looks forward to Firoz Cachalia’s contribution to the work of the Board of the SARB. Enquiries:Hlengani MathebulaHead: Strategy and CommunicationsTel: +27 12 313 4210Cell: +27 82 448 9219​