The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result of the abnormal monetary and financial conditions which World War I had brought. The SARB was only the fourth central bank established outside the United Kingdom and Europe, the others being the Federal Reserve, Bank of Japan and Bank of Java. The earliest suggestions for the establishment of the Central Bank in South Africa date back to 1879.
The South African Reserve Bank is established
The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result...
Historical Significance
The South African Reserve Bank (SARB) is the central bank of South Africa.
Events Before
Isaac Asimov is born
Isaac Asimov, American writer and biochemist, known for american writer and biochemist, was born on 1920-01-02.
Byelorussian Communist Organization is founded as a separate party
The Byelorussian Communist Organisation was a communist group in Belarus, led by Usievalad Ihnatoŭski.
League of Nations holds its first council meeting in Paris
The League of Nations (LN or LoN; French: Société des Nations [sɔsjete de nɑsjɔ̃], SdN) was the first worldwide intergovernmental organisation whose principal mission was to maintain world peace.
First day of alcohol prohibition comes into effect in the US as a result of the 18th Amendment to the Constitution
The Eighteenth Amendment (Amendment XVIII) to the United States Constitution established the prohibition of alcohol in the United States.
Baseball Hall of Famer "Rube" Foster and seven other team owners create the first Negro National League (NNL) at a meeti
Baseball Hall of Famer "Rube" Foster and seven other team owners create the first Negro National League (NNL) at a meeting in a Kansas City YMCA
Events After
British Columbia, Canada, starts driving on the right-hand side of the road
British Columbia, Canada, starts driving on the right-hand side of the road
Insulin is first used on humans when Frederick Banting injects 14-year-old Canadian Leonard Thompson to treat his diabet
Insulin is first used on humans when Frederick Banting injects 14-year-old Canadian Leonard Thompson to treat his diabetes
James Joyce's novel "Ulysses" is first published by Sylvia Beach in Paris (1,000 copies)
Ulysses is a modernist novel by the Irish writer James Joyce. Partially serialised in the American journal The Little Review from March 1918 to December 1920, the entire work was published in Paris…
American founder of the Chicago Bears football team George Halas (27) weds Minnie Bushing
American founder of the Chicago Bears football team George Halas (27) weds Minnie Bushing
Great Britain issues the Unilateral Declaration of Egyptian Independence, ending its protectorate over Egypt and grantin
Great Britain issues the Unilateral Declaration of Egyptian Independence, ending its protectorate over Egypt and granting the country nominal independence while reserving control over military and diplomatic matters
More from the 1920s
birth
Isaac Asimov is born
Isaac Asimov, American writer and biochemist, known for american writer and biochemist, was born on 1920-01-02.
birth
Charlie Munger is born
Charlie Munger, American businessman, known for american businessman, was born on 1924-01-01.
birth
Vernon L. Smith is born
Vernon L. Smith, American economist and nobel laureate, known for american economist and nobel laureate, was born on 1927-01-01.
Byelorussian Communist Organization is founded as a separate party
The Byelorussian Communist Organisation was a communist group in Belarus, led by Usievalad Ihnatoŭski.
Frequently Asked Questions
- What happened on June 30, 1921?
- The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result of the abnormal monetary and financial conditions which World War I had brought. The SARB was only the fourth central bank established outside the United Kingdom and Europe, the others being the Federal Reserve, Bank of Japan and Bank of Java.
- Why is The South African Reserve Bank is established significant?
- The South African Reserve Bank (SARB) is the central bank of South Africa.