The National Reserve Bank of Tonga (NRBT) is the

central bank 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 b ...

Tonga Tonga (, ; ), officially the Kingdom of Tonga ( to, Puleʻanga Fakatuʻi ʻo Tonga), is a Polynesian country and archipelago. The country has 171 islands – of which 45 are inhabited. Its total surface area is about , scattered over in ...

. The Reserve Bank is responsible for regulating the issue and

supply Supply may refer to: *The amount of a resource that is available **Supply (economics), the amount of a product which is available to customers **Materiel, the goods and equipment for a military unit to fulfill its mission *Supply, as in confidenc ...

of domestic and international

currency A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general ...

, as well as promoting monetary stability and

economic development In the economics study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and ...

. 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 Financial institutions, sometimes called banking institutions, are business entities that provide services as intermediaries for different types of financial monetary transactions. Broadly speaking, there are three major types of financial insti ...

. The current Governor is Ngongo Kioa. NRBT is active in promoting

financial inclusion Financial inclusion is defined as the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and service ...

and is a member of th
Alliance 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 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 ...

, which was established in 1974.

Governors

Governor of the bank is appointed for renewable five-year terms. # Alan E. Gee, July 1989 - July 1991 # Siosiua 'Utoikamanu, July 1991 – May 2003 # Siosi Cocker Mafi, May 2003 – July 2013 # Sione Ngongo Kioa, August 2013- Source:

References

External links

NRBT official website

Economy of Tonga Banks of Tonga 1989 establishments in Tonga Banks established in 1989 {{bank-stub

History

Governors

See also

References

External links