Public Statement – Re: Banking Sector Stability 

In
 the
 backdrop
 of
 the
 recent
 and
 largely
 unexpected
 developments
 in
 the
 country,
 the
 Central
 Bank 
of 
Eswatini 
(Central 
Bank) 
wishes 
to 
acknowledge 
the
 constraints
 and
 interruptions
 in
 the
 optimal
 provision
 and
 availability
 of
 financial
 and 
banking 
services 
through 
either
physical 
or 
electronic 
platforms
 to
 businesses 
and 
the 
general 
public.

In 
that 
regard, 
the 
Central 
Bank 
wishes 
to 
express 
its 
profound
 apologies 
to 
all
 stakeholders 
and 
the 
public
 at 
large 
for 
the
 interruptions 
to
 banking 
services.

The 
Central 
Bank 
acknowledges 
the 
importance 
of 
continued 
stability, 
integrity
 and
 reliability 
of
 financial 
and 
banking
 services 
to
 the 
economy
 and 
wishes 
to
 assure 
all 
stakeholders 
and 
the 
public 
at 
large 
that 
the 
Bank 
working 
with 
all
 licensed
 banks
 will
 endeavour
 to
 ensure
 that
 the
 banking
 sector
 remains
 operational 
as 
far 
as 
possible
 whilst 
ensuring 
safety
 of
 assets 
and
 life. 
In 
this
 regard, 
adequate 
measures 
and 
safeguards
 are 
in
 place 
including, 
continued
 surveillance
 to
 preserve 
the 
stability 
of 
the 
financial 
and
 banking 
system.

The 
Bank 
further 
wishes 
to 
assure 
all 
stakeholders 
and 
the 
public 
at 
large 
of 
the
 safety 
of 
their 
investments, 
savings 
and 
deposits 
within
 the 
banking 
sector. 
The
 country 
has 
adequate
 reserves 
to 
safeguard
 the
 integrity 
of 
the 
financial
 system
 and
 maintain
 the
 peg
 between
 the
 Lilangeni
 and
 the
 South
 African
 Rand
 including
 meeting 
any 
future 
demand
 for 
foreign
 currency
 by 
customers.


The
 Central 
Bank 
continues
 to 
engage
 relevant 
stakeholders 
on 
feasible 
options
 that 
would
 result 
in 
the 
provision 
of 
more 
optimal
services 
by 
the 
banking 
sector
 to 
the 
public 
and 
all 
other
stakeholders.