Central Police Station and Central Bank Honiara

The Central Bank of Solomon Islands 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 ba ...

of the

Solomon Islands Solomon Islands is an island country consisting of six major islands and over 900 smaller islands in Oceania, to the east of Papua New Guinea and north-west of Vanuatu. It has a land area of , and a population of approx. 700,000. Its capita ...

located in capital city of

Honiara Honiara () is the capital and largest city of Solomon Islands, situated on the northwestern coast of Guadalcanal. , it had a population of 92,344 people. The city is served by Honiara International Airport and the seaport of Point Cruz, and lie ...

. The Bank was established in February 1983 under the ''Central Bank of Solomon Islands Act 1976''. The current governor is Dr. Luke Forau.

Functions

Its official functions, under the CBSI Act of 2012, Section 9, are: (a) to determine and implement monetary policy; (b) to contribute to determining the exchange rate regime under section 16; (c) to determine and implement exchange rate policy; (d) to hold and manage the international reserves; (e) to regulate the international exchange of money as further specified in this Act or any other law; (f) to issue, regulate and manage the currency of Solomon Islands (g) to collect and produce statistics; (h) to inform the Parliament, Government and the public about its policies, functions and operations as further specified in this Act; (i) to promote a safe, sound and efficient payment system; (j) to regulate, licence, register and supervise financial institutions as further specified in this Act or any other law (k) to act as banker, financial adviser and fiscal agent to the Government and to any other public bodies and organisations of Solomon Islands; (l) to cooperate with and participate in international bodies and organisations concerning matters that are within its fields of competence; and (m) to ensure that financial institutions establish within their organization consumer complaints units; (n) to promote financial inclusion and related activities; and (o) to carry out any ancillary activities incidental to carrying out its functions under this Act or any other law.;;" The Bank is engaged in developing policies to promote

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

Governors

* John G. FG. Palfrey, 1976-1978 * Barry A. Longmuir, 1978-1980 *

Philip Coney Philip, also Phillip, is a male given name, derived from the Greek (''Philippos'', lit. "horse-loving" or "fond of horses"), from a compound of (''philos'', "dear", "loved", "loving") and (''hippos'', "horse"). Prominent Philips who popularize ...

, 1980-1981 * Anthony V. Hughes, 1981-1993 * Rick Houenipwela, 1993-2008 *

Denton Rarawa Denton may refer to: Places In England * Denton, Cambridgeshire, part of Denton and Caldecote * Denton, County Durham * Denton, East Sussex * Denton, Gravesham, part of the town of Gravesend, Kent * Denton, Greater Manchester * Denton, Kent, ...

, 2008-2019 *

Luke Forau People *Luke (given name), a masculine given name (including a list of people and characters with the name) *Luke (surname) (including a list of people and characters with the name) *Luke the Evangelist, author of the Gospel of Luke. Also known as ...

, 2019-

References

External links

Official site: Central Bank of Solomon Islands
{{Authority control

Economy of the Solomon Islands Banks of the Solomon Islands 1983 establishments in the Solomon Islands Banks established in 1983

Functions

Governors

See also

References

External links