The Central Bank of Kuwait was established in 1969 with a mission to lay the foundations and maintain a flexible and stable monetary financial system in the State of Kuwait.
CBK's objectives include:
Issue the Kuwaiti Dinar on behalf of the State of Kuwait. Direct credit policy to assist social and economic progress. Assist the growth of the national income. Control the banking system in the country. CBK also acts as a banker and financial advisor to the government, while representatives from both the public and private sectors make up the Board of Directors.
The aim of this page is to share with you information on Kuwait's economic and financial sector. This site, provides you with full-text access to our Publications, such as the Monthly Monetary Statistics and the Quarterly Statistical Bulletin. In addition, you can access the Kuwaiti Dinar Exchange Rate Policy, as well as information on the Rules and Regulations governing the financial sector in Kuwait. The site also Includes the laws concerning the establishment and operation of the banking industry in Kuwait. Exciting features of this site are the Photographs of the Kuwaiti Dinar and its denominations as well as link- ups to Other Related Sites.
Foundation Jordan set out preparations to establish the Central Bank of Jordan (CBJ) in the late 1950s. The Law of the CBJ was enacted in 1959. Thereafter, its operational procedures were commenced on the first day of October 1964. The CBJ succeeded the Jordan Currency Board which had been established in 1950. The capital of the CBJ, which is totally owned by the government, was increased gradually, from one million to 18 million Jordanian Dinars. The CBJ enjoys the status of an independent and autonomous corporate body, although its capital is owned entirely by the government Objectives and Functions of the CBJ The law establishing the CBJ stipulates that "the objectives of the Central Bank shall be to maintain monetary stability in the Kingdom, to ensure the convertibility of the Jordanian Dinar, and to promote the sustained growth of the Kingdom's economy in accordance with the general economic policy of the government." To achieve the above-mentioned objectives, the CBJ's functions have evolved to include the following:
1- Issuing and regulating bank notes and coins The CBJ is the sole issuer of the Jordanian currency. The CBJ, accordingly, ensures the availability of bank notes and coins to meet the needs of the national economy, and maintains an adequate inventory of these bank notes and coins for the same purpose. The CBJ also re-issues the Jordanian currency and replaces damaged, soiled, and mutilated bank notes. In addition, the CBJ issues commemorative coins. 2- Maintaining and managing the Kingdom's reserves of gold and foreign exchange The CBJ is responsible for determining the suitable investment opportunities as well as setting ratios and components of reserves to ensure their safety, liquidity, and profitability, as these reserves constitute a cornerstone in the stability of the Jordanian Dinar exchange rate. To fulfil this task, the CBJ adopts a flexible investment policy that is compatible with the ongoing developments in foreign exchange and international financial markets. 3- Acting as a banker and fiscal agent to the government and public institutions The CBJ acts as a banker and fiscal agent to the government and public institutions, as it maintains their revenue and expenditure accounts, makes transfers, opens letters of credit, manages and implements loan and trade agreements, and extends credit to the treasury. In addition, the CBJ issues and manages public debt securities on behalf of the government and public institutions in Jordan. Likewise, the CBJ administers, on behalf of the government, Jordan's subscriptions in international and regional financial institutions, and manages and implements payment agreements between the government and other countries. 4- Acting as a banker to banks and specialized credit institutions The CBJ maintains banks' deposits, extends credit to them through advances and rediscounts, and furnishes banks with credit risk information, custody, and electronic clearing services. Besides, the CBJ, sells to and buys from banks, both treasury bills and foreign exchange necessary to cover their external payment needs. Furthermore, the CBJ issues licenses authorizing banks to operate and branch in Jordan. 5- Maintaining the Safety of the Banking System One of the major tasks of the CBJ is the supervision of the banking system, so as to ensure its soundness, and protect depositors and shareholders. In doing so, the CBJ focuses on increasing the paid up capital, improving the capital adequacy ratio, and expanding the scope of the application of international auditing and accounting standards related to solvency, assets, profitability, liquidity and management. Moreover, the CBJ stresses on the importance of continuous education and training of banks' employees so that they would keep in pace with developments in the financial market. Furthermore, the CBJ performs on-site and off-site surveillance of licensed banks. 6- Advising the government on the formulation and implementation of fiscal and economic polices The CBJ proposes, upon its initiative or upon government request, specific suggestions and recommendations related to the prevailing economic, financial and monetary conditions. Besides, it participates in the formulation of economic policies, particularly, in relation to economic development plans. Furthermore, the CBJ has a distinctive role in the regular consultations between Jordanian authorities and international financial organizations, in particular, those related to economic and structural adjustment programs adopted since 1989. 7- Managing monetary problems and participating in containing local economic problems The CBJ, pursuant to its legal powers, adopts procedures and measures to deal with economic problems to avoid their adverse effects on the Jordanian economy. 8- Regulating credit The CBJ regulates the quantity, quality, and cost of credit to meet the requirements of economic development and monetary stability. Monetary policy tools available to the CBJ to regulate credit include open market operations, the reserve requirement ratio and the discount rate.
9- Other roles In addition to the above mentioned functions, the CBJ has effectively participated in the establishment of a number of financial institutions and corporations, such as Amman Stock Exchange, Jordan Mortgage Refinance Company, Jordan Loan Guarantee Corporation, Deposit Insurance Corporation, all of which have played an evident role in supporting economic development efforts in Jordan.
The Central Bank of Iceland The Central Bank of Iceland (Seрlabanki Нslands) is an independent institution, owned by the Icelandic state but under separate administration.
The Central Bank is in charge of monetary policy implementation in Iceland and performs a wide range of functions to this end. The main objective of monetary policy is price stability. Furthermore, the Bank is also obliged to contribute towards the Government's main economic policy objectives insofar as it does not consider this to conflict with its own goal of price stability.
In addition, the Central Bank undertakes standard central banking tasks, such as maintaining external reserves and promoting an efficient and safe financial system, including payment systems domestically and with foreign countries. It is also responsible for the issue of notes and coin, exchange rate matters and other duties, as specified in the Central Bank Act.
The Central Bank is ultimately under the administration of the Prime Minister and a Supervisory Board. Parliament (the Althing) elects seven members to the Supervisory Board after each parliamentary election. The Chairman of the Supervisory Board is Уlafur G. Einarsson. Generally, the Supervisory Board meets twice a month.
Three Governors, appointed by the Prime Minister, comprise the Board of Governors. The Prime Minister also appoints their Chairman. The Board of Governors is responsible for the Central Bank's operation and is authorised to make decisions in all its main affairs. The Board of Governors comprises Birgir Нsleifur Gunnarsson (Chairman), Eirнkur Gudnason and Ingimundur Fridriksson.
The Central Bank of Iceland was established by an act of parliament in 1961, although the history of central banking in Iceland is much longer. The current Central Bank Act is no. 36/2001.
La Banque de la Rйpublique d'Haпti (BRH) est un organisme public jouissant de la personnalitй juridique et de l'autonomie financiиre. Son siиge principal est а Port-au-Prince; elle peut avoir des agences ou succursales aux lieux dйsignйs par son Conseil d'Administration. Pour l'instant, les succursales de la Banque Nationale de Crйdit (BNC) en province se chargent de l'accomplissement de certaines tвches au nom de la BRH.
La loi du 17 aoыt 1979 portant crйation de la BRH stipule en son article 6 que celle-ci est dirigйe par un Conseil d'Administration dont les membres sont nommйs pour une pйriode de trois (3) ans renouvelable par arrкtй du Prйsident de la Rйpublique. Conformйment aux dispositions de la Constitution de 1987, ils sont ratifiйs par le Sйnat de la Rйpublique.
Le Conseil est composй:
du Gouverneur, qui remplit la fonction de Prйsident du Conseil; du Gouverneur-Adjoint, qui remplit la fonction de Vice-Prйsident du Conseil; de trois (3) membres, dont l'un exerce la fonction de Directeur Gйnйral. Selon la loi organique de la BRH, le Conseil d'Administration arrкte les rиglements internes de la banque dont il dйfinit la politique gйnйrale et le fonctionnement. Il a le pouvoir d'йnoncer, de diriger et de superviser la politique monйtaire. Il autorise l'impression de billets et la frappe de monnaie et dйtermine les volumes des йmissions en accord avec la loi. Il fixe les conditions gйnйrales et les plafonds des opйrations de crйdit de la BRH et dйtermine les conditions gйnйrales et les modalitйs d'exйcution des opйrations sur devises. Il recommande les limites quantitatives au montant du portefeuille des prкts et des investissements effectuйs par les йtablissements bancaires. Il dйtermine les types et catйgories de prкts et d'investissements que les institutions financiиres peuvent effectuer.
Le dйcret du 28 mars 1985, lequel modifie les articles 9 et 17 de la loi du 17 aoыt 1979, fait du Gouverneur le reprйsentant lйgal de la Banque Centrale. Il est dotй des pouvoirs les plus йtendus en ce qui a trait а la direction et la gestion de l'institution.
Le Gouverneur signe au nom de la BRH tous traitйs et conventions et toute correspondance engageant officiellement la Banque. Il applique les lois, dйcrets ou arrкtйs relatifs а la BRH ainsi que les dйcisions prises en Conseil d'Administration. Il prйsente au public un rapport annuel sur l'йvolution de la situation йconomique et monйtaire du pays.
Le Directeur Gйnйral supervise l'administration interne de la BRH et coordonne les activitйs des diffйrentes directions. Il fait appliquer les rиglements internes de l'institution et les mesures prises par le Gouverneur. Il exйcute ou fait exйcuter les dйcisions du Conseil d'Administration.
La lйgislation en vigueur assigne quatre rфles fondamentaux а la BRH, lesquels peuvent кtre йnoncйs comme suit:
dйfendre la valeur interne et externe de la monnaie nationale; assurer l'efficacitй, le dйveloppement et l'intйgritй du systиme de paiements; assurer la stabilitй du systиme financier; agir comme banquier, caissier et agent fiscal de l'Йtat. Haut de page
La Banque Centrale utilise divers instruments dans la mise en oeuvre de la politique monйtaire, dont l'objectif fondamental demeure la stabilitй des prix. Son principal canal de gestion monйtaire est depuis plus de deux ans la vente aux banques de la place des bons qu'elle йmet. Elle a йgalement recours а des interventions directes sur le marchй des changes pour acheter ou vendre des devises, selon l'objectif de court terme poursuivi. Quand les circonstances l'exigent, la BRH peut йgalement recourir а des variations dans le taux de rйserves obligatoires dont le niveau n'a cependant pas changй depuis l'introduction des bons BRH en novembre 1996.
La BRH mиne des nйgociations avec le Ministиre de l'Йconomie et des Finances en ce qui a trait au niveau et aux conditions de financement du dйficit budgйtaire. Ces ententes se matйrialisent, en gйnйral, par des accords signйs entre le Gouverneur de la BRH et le Ministre de l'Йconomie et des Finances.
Au plan de la rйglementation et de la supervision bancaires, la BRH, conformйment aux articles 29 а 32 de sa loi organique et а l'article 43 du dйcret du 14 novembre 1980 rйglementant le fonctionnement des banques, a le pouvoir d'inspecter celles-ci et de les soumettre а un rйgime de normes prudentielles. La Banque Centrale s'assure ainsi que les institutions financiиres respectent des normes minimales relatives а leur capital, а la concentration des risques de crйdit, а la qualitй de leur actif, а leur position de change et а leur mode de gestion. La BRH procиde йgalement а l'inspection rйguliиre des banques tant sur place, en y dйpкchant des missions d'inspecteurs, que sur piиces, en exigeant la communication d'informations financiиres а des frйquences qu'elle juge appropriйes.
En sa qualitй de banquier de l'Йtat (article 37 de la loi organique), la BRH tient le compte courant de toutes les institutions et collectivitйs publiques. Elle se charge de la collecte des recettes de l'Йtat et encaisse directement pour le compte de celui-ci les taxes internes et les droits de douane. Elle fait aussi fonction de gardienne des titres appartenant а ces entitйs (article 38).
La BRH s'est orientйe vers une organisation interne destinйe а faciliter la mise en oeuvre de sa stratйgie de modernisation. Il en dйcoule plusieurs projets de restructuration, lesquels contribuent non seulement а moderniser le cadre de rйgulation et de supervision du secteur financier, mais encore а amйliorer globalement et de maniиre continue l'efficience organisationnelle par des programmes de gestion visant а:
simplifier les processus administratifs; assurer une meilleure intйgration des nouvelles technologies de conduite des opйrations et de traitement de l'information; promouvoir l'amйlioration et l'utilisation optimale des ressources humaines grвce, notamment, а des programmes de formation et de recyclage tant sur place qu'а l'йtranger; amйliorer l'environnement physique de travail par le rйamйnagement des locaux et la construction de nouveaux bвtiments. L'organigramme prйsente la structure actuelle de la BRH qui comporte 27 services rйpartis entre 8 directions, 5 unitйs spйcialisйes et une cellule composйe de techniciens chargйs de mission auprиs de la Direction Gйnйrale. Siиge social: Rues des Miracles et du Magasin de l'Йtat Boite postale:1570, Port-au-Prince, Haпti
Date of Establishment: 1961. Paid up Capital: 100 million Egyptian pounds ( LE). Legal Reserves: 100 % of the Bank's capital. The Board of Directors may set aside percentage of net annual profits to form other reserves. Legal Form: The CBE is an autonomous public legal entity assuming the authorities and powers vested in it by Law No.163 of 1957, Law No.120 of 1975 and their amendments and Presidential Decree No.59 of 1993 and Law No.155 of 1998 (organizing private sector participation in the capital of public sector banks). Please click here for the whole text. Board of Directors: Chairman (Governor), Vice Chairman (Deputy Governor) and 12 Members. Advisors Chief Advisor and Advisors Senior Management: Sub-Governors, Assistant Sub-Governors, & Secretary General. Purposes & Functions: The main responsibilities of the CBE are as follows:- A) Issuance of banknotes. B) Formulating monetary , credit , & banking policy and supervising its implementation. C) Maintaining the stability of the Egyptian currency. D) Management of the State reserves of gold & foreign exchange. E) Control of banks. F) Act for the government in managing public debt & advise the government before concluding local & foreign loans and credit facilities. CBE Organizational Chart Address, Telephone, Telex,& Fax for CBE departments .
The Central Bank of Cyprus was established in 1963, shortly after Cyprus gained its independence, as an autonomous institution in accordance with the Central Bank of Cyprus Law of 1963 and relevant articles of the Constitution of the Republic of Cyprus. As of 5 July 2002, the Central Bank of Cyprus is governed by the Central Bank of Cyprus Law of 2002. This new law ensures the independence of the Central Bank of Cyprus and compatibility with the relevant provisions of the Treaty establishing the European Community and the Statute of the European System of Central Banks. At the same time, the pertinent Constitutional provisions were amended so as to ensure central bank independence as prescribed by the European Union (EU) acquis.
80, KENNEDY AVENUE, CY-1076 LEFKOSIA or P.O.BOX 25529, CY-1395 LEFKOSIA
The Centrale Bank van Aruba (the Bank) started its operations on January 1, 1986, when Aruba obtained its status as an autonomous country within the Kingdom of the Netherlands. Prior to this period, Aruba formed part of the Netherlands Antilles. The Bank is a legal entity in itself (sui generis) with an autonomous position within Aruba's public sector. With the inception of the Bank, the Aruban florin was brought into circulation, pegged to the U.S. dollar at a rate of AFL 1.79 = US$ 1.00. This exchange rate has remained unchanged since then. The mission of the Bank is to maintain the internal and external value of the florin and to promote the soundness and integrity of the financial system, accomplished by motivated and qualified employees, for the general benefit and well-being of the people of Aruba.
The Central Bank Board is the highest body of the management of the Central Bank.
The Central Bank Board consists of the chairman, his deputy and 5 members. Chairman of the Central Bank and Deputy Chairman of the Central Bank are included in the Central Bank Board according to position. The Central Bank Board members are appointed by the President of Armenia for a period of 5 years. Members of the Central Bank Board can not hold any other paid position in the Central Bank.
The Central Bank of Argentina was created in 1935. It is a self-governed body of the National Government, regulated by its Charter and by the Financial Institutions Act. Its primary and fundamental mission is to preserve the value of the Argentine currency. Furthermore, through the Superintendency of Financial Institutions and Exchange Bureaus, it has the mission of promoting the financial system stability.
Reconquista 266 (C1003ABF) Ciudad de Buenos Aires Telephone: 54 (11) 4348-3500 / 3501
