BY MBONO MDLULI
EZULWINI – The Central Bank of Eswatini (CBE) should continue to protect the nation from financial crimes.
This was said by His Majesty King Mswati III yesterday during the Golden Jubilee celebration of the CBE. The King said the CBE should continue guarding the financial system of the country against the illicit financial crimes such as money laundering and financing of terrorism.
He also mentioned that protecting the country’s financial system was important because it enabled the country to trade with other countries. The King said the CBE should also work collaboratively with central banks from other countries in order to prevent financial crimes on a global scale.
The King also applauded the role played by the commercial banks in the country, which are supervised by the CBE. The King noted that the banks played a crucial role in developing the country’s economy. He said banks had the trust of the nation, as it kept the deposits for members of the public, while also making it possible for the corporate sector and individuals to have access to credit.
His Majesty commended the CBE for, over the years, making sure that the quality of the Lilangeni was high. He said the CBE has also been able to develop financial system that would match the global standards.
The King noted that the CBE was also able to provide financial and economic stability over the years. The King also credited the CBE for having made it possible for all kinds of people in Eswatini to have access to various financial products. He said Emaswati, including the elderly people, have been able to easily make payments through various technologies introduced with the help of the CBE.
