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Bank Of Eritrea
The Bank of Eritrea is the central bank of Eritrea. The bank is located in Asmara, the capital. The central bank is interested in encouraging foreign investment and in importing capital goods such as industrial machinery and agricultural equipment. The Central Bank of Eritrea, though a government entity, is independent from the Ministry of Finance; its governor and policy committee formulate and implement policy with input from the Ministry of Finance. Although travellers are permitted to bring foreign currency into the country, all transactions are to be made in Nakfa. Governors * Andebrhan Welde Giorgis, 1993-1994https://www.europarl.europa.eu/cmsdata/175430/20080626ATT32869EN.pdf *Tekie Beyene, 1994-2003-? * Kibreab Woldemariam, ?-2004- See also *Banking in Eritrea *Central banks and currencies of Africa * Economy of Eritrea *Eritrean nakfa, the unit of currency *List of central banks References External links * Economy of Eritrea Eritrea Eritrea ( ; t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asmara
Asmara ( ), or Asmera, is the capital and most populous city of Eritrea, in the country's Central Region. It sits at an elevation of , making it the sixth highest capital in the world by altitude and the second highest capital in Africa. The city is located at the tip of an escarpment that is both the northwestern edge of the Eritrean Highlands and the Great Rift Valley in neighbouring Ethiopia. In 2017, the city was declared as a UNESCO World Heritage Site for its well-preserved modernist architecture. The site of Asmera was first settled in 800 BC with a population ranging from 100 to 1,000. The city was then founded in the 12th century AD after four separate villages unified to live together peacefully after long periods of conflict. Under Italian rule the city of Asmara was made capital of Eritrea in the last years of the 19th century. History Giving the Pre-Axumite archaeological evidence found in Asmara around Sembel Called the Ona culture, Asmara's history go back to 8 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1914
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1914 Establishments In Eritrea
This year saw the beginning of what became known as World War I, after Archduke Franz Ferdinand of Austria, heir to the Austrian throne was assassinated by Serbian nationalist Gavrilo Princip. It also saw the first airline to provide scheduled regular commercial passenger services with heavier-than-air aircraft, with the St. Petersburg–Tampa Airboat Line. Events January * January 1 – The St. Petersburg–Tampa Airboat Line in the United States starts services between St. Petersburg and Tampa, Florida, becoming the first airline to provide scheduled regular commercial passenger services with heavier-than-air aircraft, with Tony Jannus (the first federally-licensed pilot) conveying passengers in a Benoist XIV flying boat. Abram C. Pheil, mayor of St. Petersburg, is the first airline passenger, and over 3,000 people witness the first departure. * January 11 – The Sakurajima volcano in Japan begins to erupt, becoming effusive after a very large earthquak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organisations Based In Asmara
An organization or organisation (Commonwealth English; see spelling differences), is an entity—such as a company, an institution, or an association—comprising one or more people and having a particular purpose. The word is derived from the Greek word ''organon'', which means tool or instrument, musical instrument, and organ. Types There are a variety of legal types of organizations, including corporations, governments, non-governmental organizations, political organizations, international organizations, armed forces, charities, not-for-profit corporations, partnerships, cooperatives, and educational institutions, etc. A hybrid organization is a body that operates in both the public sector and the private sector simultaneously, fulfilling public duties and developing commercial market activities. A voluntary association is an organization consisting of volunteers. Such organizations may be able to operate without legal formalities, depending on jurisdiction, incl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Banks
A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Most central banks also have supervisory and regulatory powers to ensure the stability of member institutions, to prevent bank runs, and to discourage reckless or fraudulent behavior by member banks. Central banks in most developed nations are institutionally independent from political interference. Still, limited control by the executive and legislative bodies exists. Activities of central banks Functions of a central bank usually include: * Monetary policy: by setting the official interest rate and controlling the money supply; *Financial stability: acting as a government's banker and as the bankers' bank ("lender of last resort"); * Reserve management: managing a country's ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Central Banks
. Central banks Central banks Central banks This is a list of central banks. Countries that are only partially recognized internationally are marked with an asterisk (*). Disappeared central banking jurisdictions * – Bank of Amsterdam (1609-1791) * – Taula de canvi de Barcelona (1401-1714) * – East African Currency Board (1919-1966) * – (''Hrvatska Državna Banka'', 1941-1945) * – National Bank of Czechoslovakia (1926–1939 and 1945-1950) and State Bank of Czechoslovakia (1950–1992) * – (1854-1875) * – Bank of Saint George (1407-1805) * – (1948-1968) and Staatsbank der DDR (1968-1990) * – Hamburger Bank (1619-1875) * – Bank of Korea (1909–1950) * – Central Bank of Manchou (1932-1945) * - Bank of Issue in Poland (1940-1945) * – (1765-1846) and (1847-1875) * – (1849-1861), itself formed through the merger of (1846-1849) and Banca di Torino (1847-1849) * – National Bank of Vietnam (1954-1975) * – Banco di Napoli, under di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eritrean Nakfa
The nakfa ( ISO 4217 code: ''ERN''; ''naḳfa'', or or نقفة ''nākfā'') is the currency of Eritrea and was introduced on 15 November 1998 to replace the Ethiopian birr at par. The currency takes its name from the Eritrean town of Nakfa, site of the first major victory of the Eritrean War of Independence. The nakfa is divided into 100 cents. The nakfa is pegged to the US dollar at a fixed rate of US$1 = ERN 15. At earlier times, it was officially pegged at US$1 = ERN 13.50. The currency is not fully convertible, so black market rates available on the streets typically offered a rate of 15 nakfas per dollar. Between 18 November and 31 December 2015, the Bank of Eritrea began replacement of all nakfa banknotes. The banknote replacement initiative was designed to combat counterfeiting, the informal economy but primarily Sudanese human traffickers who had accepted payments in nakfa banknotes in exchange for transporting would-be migrants primarily to Europe. A consequenc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Banks And Currencies Of Africa
There are two African currency unions associated with multinational central banks; the West African Banque Centrale des États de l'Afrique de l'Ouest (BCEAO) and the Central African Banque des États de l'Afrique Centrale (BEAC). Members of both currency unions use the CFA Franc as their legal tender. Below is a list of the central banks and currencies of Africa. See also * Africa * Economy of Africa * List of African countries by GDP (nominal) * List of African stock exchanges * List of currencies in Africa African currency was originally formed from basic items, materials, animals and even people available in the locality to create a medium of exchange. This started to change from the 17th century onwards, as European colonial powers introduced thei ... References World Economic Outlook Database, October 2012 International Monetary Fund. Accessed on October 10, 2013. {{DEFAULTSORT:Central Banks And Currencies Of Africa Africa-related lists Currencies of Africa [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In Eritrea
Modern banking in Eritrea started with the arrival of the Italian colonizers. However, from 1974 on (due to the nationalization decided by the Ethiopian Government of Mengistu Haile Mariam), the banking sector became a government monopoly. This situation continued after Eritrea achieved its independence. The Bank of Eritrea is the central bank of Eritrea. At present there are three commercial banks in operation in Eritrea - The Commercial Bank, The Housing and Commercial Bank, and the Eritrean Investment and Development Bank. All banks with the exception of the Housing and Commercial Bank are under state ownership, while the Housing and Commercial Banks is owned by the ruling party, the PFDJ. History In 1914, the Italian government authorized the Banca d'Italia, the Italian central bank, to operate under special regime and therefore to carry out in the colonies operations not allowed in Italy, including commercial banking. Banca d'Italia then established its first two branches in A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tekie Beyene
Tekie is an Eritrean name that may refer to * Tekie Abraha, Eritrean football manager * Tesfaldet Tekie (born 1997), Eritrean-born Swedish football player {{Short pages monitor Surnames of African origin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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