{"id":71633,"date":"2025-07-07T22:28:36","date_gmt":"2025-07-07T22:28:36","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief"},"modified":"2025-07-07T22:40:15","modified_gmt":"2025-07-07T22:40:15","slug":"forex-law-non-compliance-bothers-central-bank-chief","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief","title":{"rendered":"Forex law non-compliance bothers central bank chief"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Malawi. <\/strong><\/span>Reserve Bank of Malawi (RBM) Governor MacDonald Mafuta Mwale has said market compliance with the recently enacted Foreign Exchange Act of 2025 remains low.<\/p>\n<p>The law, which ensures transparency in the foreign exchange market, came into effect in May 2025 after being assented to by President Lazarus Chakwera.<\/p>\n<p>In an interview, Mwale acknowledged that adherence to the new foreign exchange regulations had been underwhelming.<\/p>\n<p>However, he expressed optimism that the new law\u2014now giving RBM enforcement authority\u2014 would enable the central bank to ensure better adherence going forward.<\/p>\n<p>\u201cI am strongly assuring you that there will be adherence. As an economy, everyone has to play the game by the rules,\u201d Mwale said.<\/p>\n<p>The Act, passed by Parliament in April 2025, repealed the Exchange Control Act of 1984, bringing Malawi\u2019s legal framework for foreign exchange management in line with international standards.<\/p>\n<p>It aims to enhance transparency, strengthen monetary policy enforcement and curb illicit financial flows.<\/p>\n<p>The legislation significantly expands the enforcement powers of the RBM while the Minister of Finance retains policy oversight.<\/p>\n<p>Financial Dealers Association of Malawi (Fimda) President Leslie Fatch said interested parties were yet to be formally notified on the Act\u2019s effect.<\/p>\n<p>Fatch described the Act as a timely and necessary step in addressing modern challenges in foreign exchange management.<\/p>\n<p>\u201cThe beauty about the Act is it\u2019s now contemporary. We are replacing the old Exchange Control Act, which was a bit outdated because it\u2019s been there for quite some time. So, the new Act should be addressing the contemporary challenges,\u201d Fatch said.<\/p>\n<p>He added that Fimda and other financial sector players welcomed the initiative and looked forward to its full implementation.<\/p>\n<p>\u201cThe market has moved. So, it\u2019s high time that the Act needs to be updated and we welcome the initiatives taken by the central bank and the relevant authorities,\u201d he said.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Malawi<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Malawi. Reserve Bank of Malawi (RBM) Governor MacDonald Mafuta Mwale has said market compliance with the recently enacted Foreign Exchange Act of 2025 remains low. The law, which ensures transparency in the foreign exchange market, came into effect in May 2025 after being assented to by President Lazarus Chakwera. In an interview, Mwale [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":71632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7,8,410],"tags":[234],"class_list":["post-71633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-to-homepage","tag-malawi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Forex law non-compliance bothers central bank chief - Malawi<\/title>\n<meta name=\"description\" content=\"Reserve Bank of Malawi (RBM) Governor MacDonald Mafuta Mwale has said market compliance with the recently enacted Foreig ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forex law non-compliance bothers central bank chief\" \/>\n<meta property=\"og:description\" content=\"Reserve Bank of Malawi (RBM) Governor MacDonald Mafuta Mwale has said market compliance with the recently enacted Foreig ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-07T22:28:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-07T22:40:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2025\/07\/sm_1751915526.063784.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"806\" \/>\n\t<meta property=\"og:image:height\" content=\"836\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Forex law non-compliance bothers central bank chief\",\"datePublished\":\"2025-07-07T22:28:36+00:00\",\"dateModified\":\"2025-07-07T22:40:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief\"},\"wordCount\":324,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2025\/07\/sm_1751915526.063784.jpg\",\"keywords\":[\"Malawi\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\",\"homepage-english\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief\",\"name\":\"Forex law non-compliance bothers central bank chief - Malawi\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2025\/07\/sm_1751915526.063784.jpg\",\"datePublished\":\"2025-07-07T22:28:36+00:00\",\"dateModified\":\"2025-07-07T22:40:15+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Reserve Bank of Malawi (RBM) Governor MacDonald Mafuta Mwale has said market compliance with the recently enacted Foreig ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2025\/07\/sm_1751915526.063784.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2025\/07\/sm_1751915526.063784.jpg\",\"width\":806,\"height\":836,\"caption\":\"Forex law non-compliance bothers central bank chief\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/malawi\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Forex law non-compliance bothers central bank chief\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#website\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/\",\"name\":\"Malawi\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/malawi\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Forex law non-compliance bothers central bank chief - Malawi","description":"Reserve Bank of Malawi (RBM) Governor MacDonald Mafuta Mwale has said market compliance with the recently enacted Foreig ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief","og_locale":"en_US","og_type":"article","og_title":"Forex law non-compliance bothers central bank chief","og_description":"Reserve Bank of Malawi (RBM) Governor MacDonald Mafuta Mwale has said market compliance with the recently enacted Foreig ...","og_url":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief","og_site_name":"Malawi","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2025-07-07T22:28:36+00:00","article_modified_time":"2025-07-07T22:40:15+00:00","og_image":[{"width":806,"height":836,"url":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2025\/07\/sm_1751915526.063784.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Forex law non-compliance bothers central bank chief","datePublished":"2025-07-07T22:28:36+00:00","dateModified":"2025-07-07T22:40:15+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief"},"wordCount":324,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2025\/07\/sm_1751915526.063784.jpg","keywords":["Malawi"],"articleSection":["all news","economy","head lines","homepage-english","to-homepage"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief","url":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief","name":"Forex law non-compliance bothers central bank chief - Malawi","isPartOf":{"@id":"https:\/\/www.africa-press.net\/malawi\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2025\/07\/sm_1751915526.063784.jpg","datePublished":"2025-07-07T22:28:36+00:00","dateModified":"2025-07-07T22:40:15+00:00","author":{"@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Reserve Bank of Malawi (RBM) Governor MacDonald Mafuta Mwale has said market compliance with the recently enacted Foreig ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#primaryimage","url":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2025\/07\/sm_1751915526.063784.jpg","contentUrl":"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2025\/07\/sm_1751915526.063784.jpg","width":806,"height":836,"caption":"Forex law non-compliance bothers central bank chief"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-law-non-compliance-bothers-central-bank-chief#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/malawi\/"},{"@type":"ListItem","position":2,"name":"Forex law non-compliance bothers central bank chief"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/malawi\/#website","url":"https:\/\/www.africa-press.net\/malawi\/","name":"Malawi","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/malawi\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts\/71633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/comments?post=71633"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/posts\/71633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/media\/71632"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/media?parent=71633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/categories?post=71633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/malawi\/wp-json\/wp\/v2\/tags?post=71633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}