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Botswana’s Central Bank Sharpens Compliance Tools

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Strengthening Oversight and Supervision of Financial Institutions

Botswana’s central bank has revamped its compliance department to ensure effective regulation and supervision of the country’s financial institutions. The newly created Department of Compliance brings together market conduct, consumer protection, anti-money laundering/combating financing of terrorism (AML/CFT) regulation, and other compliance functions under one umbrella.

Enhanced Public Interface

The move aims to enhance public interface on issues such as:

• Unfair treatment of customers by banks and service providers
• Bank charges and fees administration

Responsibilities of the Department of Compliance

The department will be responsible for:

• Administering the Credit Information Act, which regulates credit bureaux
• Supervising bureaux de change
• Housing all AML/CFT activities under one roof (in line with recommendations from regional and international bodies such as ESAAMLG and FATF)

Leadership Team

The Department of Compliance is led by:

• Director: Joe Selwe
• Deputy Directors:
  • Evelyn T Sennanyana
  • Didimalang Segaiso

Contact Information

For more information or to reach the team, please contact: Tel: (267) 3606188 Email: Ndebeles@bob.bw

or Secretary Tsaone Terence Motswapong at:

Tel: (267) 3606007 Email: motswapongt@bob.bw