 This had the principal effect of blocking outflows of capital to the other countries in the Sterling Area, notably Britain.To some extent the Blocked Rand system mirrored Germany's Reichsbank system introduced under Hjalmar Schacht in 1937, called "aski" accounts — short for "Ausländer Sonderkonten für Inlandszahlungen" ("foreigners' special accounts for inland payments").In other words, creating a closed loop system that did not create a claim on the foreign exchange reserves of the Third Reich, or in this case South Africa.