The Reserve Bank of Malawi

(1) There shall be established by an Act of Parliament a central bank of the Republic, known as the Reserve Bank of Malawi which shall serve as the State’s principal instrument for the control of money supply, currency and the institutions of finance and shall serve generally in accordance with the normal functions of a central bank. [13 of 2001] (2) The Bank shall be controlled by a Board which shall consist of a chairperson and members of the Board who shall, subject to this Constitution, be appointed in accordance with the Act of Parliament by which the Bank is established. [13 of 2001]