Financial rand Financial rand The South African financial rand was the most visible part of a system of capital controls. Although the financial rand was abolished in March 1995, some capital controls remain in place. These capital controls are locally referred to as "exchange controls", although the system has since 1995 moved towards surveillance — recording and reporting to the authorities of foreign currency transactions — rather than control. Capital controls have been in place in South Africa in various guises on an uninterrupted basis since the outbreak of World War II, when Great Britain and its dominions implemented the Sterling area.
Henry Hale Rand Rand started his career at the International Shoe Company (which became Furniture Brands International) in 1929. He joined its Board of Directors in 1945. From 1948 to 1955, he served as its Vice President. Upon the death of his brother, Edgar E. Rand, who had served as President from 1950 to 1955, Rand served as President until 1962. Under his leadership, the company was the world's largest shoe manufacturer. Rand was elected as the President of the Webb School in 1950. Additionally, he served on the Board of Trustees of his alma mater, Vanderbilt University. Rand married Dorothy Bolin. They