HARARE – The Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI) has brought together various experts from the region to discuss legal and regulatory issues in the effective of domestic financial markets.
Financial markets experts say well-functioning domestic financial markets are crucial for economic growth and their development is key for government and the private sector as a whole.
Said MEFMI public relations manager Gladys Siwela-Jadagu:
“In several MEFMI member countries, review and modernisation of legal and regulatory frameworks and institutional arrangements has been ongoing. These reviews should ideally be aligned to agreements reached at regional level and speak to the integration criteria.
“This regional agenda is useful for the coordinated development of the domestic financial markets, in terms of reducing regulatory burden by harmonising financial laws and processes and integrating systems to reduce monitoring and mitigate risk.”
To this extent, MEFMI is hosting a regional workshop on Legal and Regulatory Issues in Domestic Financial Markets Development in Harare (through the course of this week), which is expected to address various aspects relating to the legal and regulatory framework, operationalised through effective institutional arrangements.
According to MEFMI, experts resourcing the regional workshop are largely MEFMI Fellows drawn from the pool of experts developed by the Institute in all its member countries.
MEFMI is a regional owned Institute with 14 member countries: Angola, Botswana, Burundi, Kenya, Lesotho, Malawi, Mozambique, Namibia, Rwanda, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe.
The Institute’s Secretariat is based in Harare.
It also said specialists have also been drawn from technical cooperating partners of MEFMI like the South African Reserve Bank, East African Community and the Southern African Development Community, as well as other authorities who are internationally based.