n Malawi Law Journal - The SADC Finance and Investment Protocol and the reform of the Malawian financial services regulatory framework : reflections in retrospect




This article looks at the Southern African Development Community (SADC) reforms in financial services regulation, in particular, the Finance and Investment Protocol (FIP) and how they have impacted on Malawi's financial services regulatory reforms. It concludes that, although Malawian reforms in some way incorporate some aspects of the FIP, they have largely been developed independently of the FIP as a harmonising framework. On the FIP, the article concludes that, although it is a laudable development, it suffers from institutional weaknesses that threaten its efficacy as a vehicle for the integration of financial services in the region. It sets out goals that are too ambitious to be achieved within its stated time frame. Whilst welcoming the proposed reforms in Malawi, the article concludes that for a large part, the reforms do not introduce major changes to overthrow the status quo and suggests a formula for strengthening the regulation of financial services that would enhance the safety and soundness of banks and financial institutions in the country.


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