Investors’ hold on Sarb to be weakened

gill-marcus

The South African Reserve Bank (Sarb) and Pretoria on Monday sought to loosen shareholders' grip over the institution's operations by amending the central bank law.

Sarb is one of the few central banks to be privately owned. The proposed South African Reserve Bank Amendment Bill seeks to thwart the formation of shareholder blocs that may be used to exert undue influence on the central bank's activities. Under the bill, shareholders, who are limited to 10,000 shares each at present, will be unabl

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