In fact, government appoints 8 of the 15 Board members, but it plays no role in the broader policy or regulatory decisions of the SARB. These decisions are the responsibility of the Governor and the Deputy Governors, who are themselves appointed by government. Private shareholders and Board members they elect have no influence whatsoever on monetary policy, financial stability or banking regulation.
I also thank the IMF for putting such training high on its agenda and I would like to make a special call that the IMF, through ATI and the Regional Technical Assistance Centres continues to provide for such regional seminars on topical subjects such as Corporate Governance, Stress Testing and RiskBased Supervision to name but a few.