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National Reserve Bank Of Tonga
The National Reserve Bank of Tonga (NRBT) is the central bank of Tonga. The Reserve Bank is responsible for regulating the issue and supply of domestic and international currency, as well as promoting monetary stability and economic development. It also advises the Ministry of Finance on banking and monetary matters, acts as the principal banker and fiscal agent of the Government of Tonga, and is responsible for the licensing and supervision of financial institutions. The current Governor is Ngongo Kioa. NRBT is active in promoting financial inclusion and is a member of thAlliance for Financial Inclusion NRBT Building hosts the Embassy of Japan. NRBT Is the current tallest building in Tonga, standing at 18m (59 ft). History National Reserve Bank of Tonga was established on 1 July 1989. It was preceded as monetary authority and holder of foreign reserves by Bank of Tonga, which was established in 1974. Governors Governor of the bank is appointed for renewable five-year terms. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Ownership
State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government services financed out of a government's general budget. Public ownership can take place at the national, regional, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, collective/cooperative, and common ownership. In market-based economies, state-owned assets are often managed and operated as joint-stock corporations with a government owning all or a controlling stake of the company's shares. This form is often referred to as a state-owne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of Tonga
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] |
Banks Of Tonga
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] |
Economy Of Tonga
Tonga's economy is characterized by a large nonmonetary sector and a heavy dependence on remittances from the half of the country's population that lives abroad, chiefly in Australia, New Zealand, and the United States. Much of the monetary sector of the economy is dominated, if not owned, by the royal family and nobles. This is particularly true of the telecommunications and satellite services. Much of small business, particularly retailing on Tongatapu, is now dominated by recent Chinese immigrants who arrived under a cash-for-passports scheme that ended in 1998. The manufacturing sector consists of handicrafts and a few other very smallscale industries, all of which contribute only about 3% of GDP. Commercial business activities also are inconspicuous and, to a large extent, are dominated by the same large trading companies found throughout the South Pacific. In September 1974, the country's first commercial trading bank, the Bank of Tonga, opened. Rural Tongans rely on pla ... [...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] |
Minister Of Finance (Tonga)
Minister of Finance is the person in charge of the Ministry of Finance of Tonga. Ministers *William Garfield Bagnall, January 1919 - July 1939 *Horace E. Nicolson, 1939 - 1949 *George Goodacre, 1950 - 1961 *Mahe 'Uli'uli Tupouniua, 1961 - 1982 * Sione Tapa (acting September 1970 to May 1971, November 1972 to January 1981) *James Cecil Cocker, 1982 - 1991 *Tutoatasi Fakafanua, 1991 - 2000 (Tutoatasi Kinikinilau Fakafanua) *Siosiua 'Utoikamanu, 2001 - 2008 (Siosiua Tuitalukua Tupou 'Utoikamanu) *'Otenifi Afu'alo Matoto, 2008 - 2010 *Sunia Manu Fili, 2010 - April 2012 *Lisiate 'Akolo, April 2012 - December 2013 *'Aisake Eke, January 2014 - March 2017 *Tevita Lavemaau, March 2017 - January 2018 *Pohiva Tu'i'onetoa, January 2018 - October 2019 *Tevita Lavemaau, October 2019 - 28 December 2021 *Tatafu Moeaki, 28 December 2021 - See also * Government of Tonga * Economy of Tonga * National Reserve Bank of Tonga External links Website of the Ministry of Finance References {{reflist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Siosi Cocker Mafi
Siosi Cocker Mafi is a Tongan economist. She was Governor of the National Reserve Bank of Tonga The National Reserve Bank of Tonga (NRBT) is the central bank of Tonga. The Reserve Bank is responsible for regulating the issue and supply of domestic and international currency, as well as promoting monetary stability and economic development. I ... from May 2003 to July 2013, the first women to serve in the post. Career Mafi started working for the central during 1993. In 2003 she was appointed governor and became the first female central bank governor in Pacific Islands. She was deputy governor from 2000, and also worked as an economist in Tonga's Ministry of Finance for the last three years before she became governor. Sione Ngongo Kioa took over as central bank governor from Siosi Mafi on 21 August 2013, when her second 5-year term expired. References Tongan economists Living people Women bankers Governors of National Reserve Bank of Tonga Year of birth missing (livi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
