Mandate of the Division

The core mandate of the Security Services Division (SSD) is to provide a secure and safe working environment for all the Bank employees, clients and customers. It is to protect the asserts of the Bank and support the daily operations of the Bank.

The Security Services Division is organised into three sections arranged as follows:

a) Security Systems Management

Security Systems Management is responsible to ensure efficient functioning and maintenance of electronic security system as well as overseeing the operations of control room. The section is further mandated to undertake division’s administrative tasks such as annual budged and leave plan implementation, procurement processes and training of staff.

b) Operations

The Operations Section is mandated to ensure day-to-day protection and safety of staff and asserts of the Bank. The Section is responsible to monitor the security situation in the Bank premises through access control, manning of security posts, escorting visitors and contractors within the Bank building and premises. The Section is also entrusted with the responsibility of evacuation of staff and visitors during emergencies.

c) Security Risk Management

The Security Risk Management Section is responsible for management of the Bank’s security risks and gathering of intelligence that is relevant to the financial sector. The Section is further responsible for vetting of prospective Bank employees and suppliers; liaising with law enforcement agencies and financial institutions on matters of mutual interest; and administering the Bank’s at Risk Personnel Protection Program.

Mandate

The FCP Division was established in 2018 with the main objective of protecting the financial consumers from unfair, deceptive or abusive practices and taking action against Financial Services Providers (FSP’s) licensed by the Central Bank that violate the financial consumer principles. The Division is responsible for supervising market conduct issues via on-site and off-site examinations (transparency and disclosure), complaints handling and redress, developing policy and legal framework for the protection of financial consumers, and engaging in financial education and literacy campaigns. The Unit supervises all financial institutions under the purview of the Central Bank of Lesotho.

a) The functions of the Division include:

  1. On-site examination and off-site monitoring of financial consumer protection and market conduct issues;
  2. Maintaining consumer confidence and trust in the financial system;
  3. Monitors financial consumer complaints handled by all players in the financial sector including but not limited to banks, insurance companies and their intermediaries, microfinance institutions, money transfer companies as well as the credit bureau;
  4. Investigates and facilitates the resolution of complaints lodged to the Central Bank when internal mechanisms of banks and other financial institutions had been exhausted;
  5. Participate and contribute to financial inclusion initiatives;
  6. Participate and contribute to financial education and literacy initiatives;
  7. Carry on thematic research on issues which impact financial consumers; and
  8. Develop regulatory and supervisory frameworks for the promotion of proper market conduct for regulated financial services producers.

a) Mandate

The mandate of the Facilities Management Services (FMS) Division is to: ensure that all movable and immovable assets of the Bank are maintained and operate at optimal level with very minimum downtimes; provide conducive working environment within the Bank premises; provide support in areas of logistics/transport, hygiene and gardening services; and oversee and manage all construction projects.

  1. Units

The FMS consists of four (4) units namely; Maintenance Unit, Hygiene Services, Transport and Logistics Services, and Garden Services.

a) Maintenance Unit

The functions of the Market Operations Division include the following:

  • Development of maintenance strategies for asset management purposes;
  • Provision of guidance on construction projects;
  • Development of policies and procedures that guide operations of Facilities Management Services; and
  • Space allocation management within the Bank.

b) Hygiene Services Unit

The functions of the Unit include the following;

  • Provision of cleaning services at the Bank buildings and residential properties; and
  • Provision of refreshments to staff and visitors.

c) Transport and Logistics Services Unit

The functions of the Unit include the following;

  • Provision of transport to all employees and visitors of the Bank;
  • Ensuring that all Bank vehicles are roadworthy at all times; and
  • Management and safeguarding of the Bank’s fleet.

d) Gardening Services Unit

The functions of the Unit include the following:

  • Maintenance of the gardens at Bank buildings and residential properties - clearing and planting;
  • Provision of drinking water at water dispensers; and
  • Ensure that the landscapes of the Bank are clean and tidy.

Financial Indicators

16 August 2022

Loti / US Dollar       16.4477
Loti / Euro 16.6961
Loti / Pound 19.8384
Loti / SDR 21.7174

 

Monthly Inflation (%) 2021 to 2022

 

Net International Reserves

RESEARCH & SUPERVISION DATA