The Central Bank of Barbados (CBB) is the national monetary authority responsible for providing advice to the Government of Barbados on banking and other

financial Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fina ...

and monetary matters. The Central Bank of Barbados, was established by Act of parliament on 2 May 1972. Prior to the establishment of CBB, Barbados' monetary policies were governed through its membership in the Eastern Caribbean Currency Authority (ECCA). The Central Bank operates as the banknote issuing authority for Barbadian currency. The name of the Central Bank's building is the Tom Adams Financial Centre, which is a ten-

storey A storey (British English) or story (American English) is any level part of a building with a floor that could be used by people (for living, work, storage, recreation, etc.). Plurals for the word are ''storeys'' (UK) and ''stories'' (US). T ...

building located on Spry Street in Bridgetown. As part of the complex, there is a 491-seat theatre/auditorium known as the

Frank Collymore Hall Frank or Franks may refer to: People * Frank (given name) * Frank (surname) * Franks (surname) * Franks, a medieval Germanic people * Frank, a term in the Muslim world for all western Europeans, particularly during the Crusades - see Farang Curre ...

. The building was constructed between 1982 and 1986 and it was opened September 18, 1986. The Global Competitiveness Report for 2008–09 ranked the soundness of Barbados's commercial banks as 21st out of 134 global jurisdictions assessed.

Role

At its inception the Central Bank of Barbados had certain objectives. These were: * Promoting monetary stability * Promoting a sound financial structure * Fostering development of the money and capital markets * Channelling commercial bank credit into productive activities * Fostering credit and exchange conditions conducive to the orderly and sustained economic development of Barbados. Today the regulatory capacity of the central bank handles the issuance of Barbadian banknotes and coins, and licensing of agencies such as: banks, investment businesses, depository trust and finance companies. It also undertakes supervision of Barbadian financial institutions, credit worthiness of the financial system, administering of the international reserves, and reporting regularly to the country on the national finances. The Barbadian economy is reviewed regularly by several notable

Wall Street Wall Street is an eight-block-long street in the Financial District of Lower Manhattan in New York City. It runs between Broadway in the west to South Street and the East River in the east. The term "Wall Street" has become a metonym for t ...

investment firms including: PricewaterhouseCoopers,

Standard & Poor's S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is con ...

, and Moody's.

Organisation

The head of the Central Bank is the governor, who is appointed by the Minister of Finance. The current governor of the Central Bank of Barbados is Mr. Cleviston Haynes as of January 2018 (he was acting Governor since March 2017). The Bank also has two Deputy Governors in the persons of Mrs. Michelle Doyle Lowe and Mr. Michael D Carrington, both in acting capacities. The CEO is Kevin Gill effective April 1, 2021.

Past Central Bank Governors

*Sir

Courtney Blackman Sir Courtney Newlands McLaurin Blackman, KA (6 March 1933 – 16 March 2021) was a Barbadian economist, international business consultant, and diplomat. He served as the first Governor of the Central Bank of Barbados from 1972 to 1987. At t ...

(founding Governor, June 1972 – March 1987) *Dr Kurleigh King (September 1987 – September 1992) *Mr Calvin Springer (September 1992 – September 1997) *Mr Winston Cox (September 1997 – April 1999) *Dr

Marion Vernese Williams Marion Vernese Williams GCM, is a Barbadian economist, banker, accountant and diplomat. She is a recipient of the Gold Crown of Merit. Early life and education Williams was born Marion Mottley, the daughter of two Barbadian teachers, Rudolph ...

(April 1999 – November 2009) *Dr DeLisle Worrell (November 2009 – March 2017)

Awards of the CBB

* The Frank Collymore Literary Endowment

References

External links