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SARB Awarded Central Banking ‘Reserve Manager of the Year Award’
Published Date:
2015-01-12
Last Modified Date:
2020-10-08, 08:05 PM
Category:
Media > Media Releases
CentralBanking.com announced today that it has awarded the 2015 ‘Reserve Manager of the Year Award’ to the South African Reserve Bank (SARB). This is in recognition of the measures taken by the SARB to ensure resilience during a challenging year for emerging markets, and in addressing the fundamental change in perceptions of risk and return under which reserve managers operate in a post-crisis world.This global Award also recognises the work done at the SARB that ensures its reserves management operations are in keeping with central banking best practice. Such recognition is particularly meaningful in the light of the growth in South Africa’s official foreign exchange reserves since 2004 that necessitated significant changes to how the SARB manages its foreign currency assets. Consequently, the reserves management function at the Bank over the years has been transformed from a pure liquidity management operation to a fully-fledged investment management operation that covers the full value chain of cash, investment, risk management, settlement and accounting, and including oversight structures that ensure the integrity of the reserve management processes. This Award bears testimony to the level of maturity of the reserves management practices put in place in recent years.The Central Banking Awards Committee selects the winners and the Central Banking Awards recognise excellence in the Central Banking community.It is an honour for the South African Reserve Bank to be named the Central Banking Reserve Manager of the Year for 2015.The award will be presented to the South African Reserve Bank at a ceremony in London on 12 March 2015.Issued by:Hlengani MathebulaHead: Group Strategy and CommunicationsTel: +27 12 313 4210