Reserve Bank of Malawi (RBM) Governor, Dalitso Kabambe, has assured commercial banks and other players in the financial sector that the industry cannot suffer a shutdown following a robust backup operating system the central bank has put in place.
Kabambe said this last week when RBM joined other central banks across the world i n commemorating International Awareness Week on Business Continuity, where they test the resilience of their systems.
According to Kabambe, RBM deliberately shut down its main system last week and was operating using the backup system. He said found it mesmerising that there were no interruptions in business operations among banks.
“It’s a week where central banks are looking at their systems to say, in case of a shut down or any challenge to the operating procedure and systems, would they still operate. So this is important to us and for this week, we, as RBM, are doing three main activities to test our systems.
“We have shut down our payment systems to find out if our recovery plan can run effectively and efficiently but also we were assimilating a gas attack on the headquarter building and we have done that successfully that we can still be able to operate from another site,” Kabambe said.