The Bank of Eritrea 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
Eritrea
Eritrea ( ; ti, ኤርትራ, Ertra, ; ar, إرتريا, ʾIritriyā), officially the State of Eritrea, is a country in the Horn of Africa region of Eastern Africa, with its capital and largest city at Asmara. It is bordered by Ethiopia ...
. The
bank
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 ...
is located in
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 ...
, the capital. The central bank is interested in encouraging
foreign investment and in importing
capital goods
The economic concept of a capital good (also called complex product systems (CoPS),H. Rush, "Managing innovation in complex product systems (CoPS)," IEE Colloquium on EPSRC Technology Management Initiative (Engineering & Physical Sciences Researc ...
such as
industrial machinery and
agricultural equipment
Agricultural machinery relates to the mechanical structures and devices used in farming or other agriculture. There are many types of such equipment, from hand tools and power tools to tractors and the countless kinds of farm implements that they ...
.
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, 1993-1994
[https://www.europarl.europa.eu/cmsdata/175430/20080626ATT32869EN.pdf ]
*
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 ...
, 1994-2003-?
*
Kibreab Woldemariam, ?-2004-
See also
*
Banking in Eritrea
*
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 ...
*
Economy of Eritrea
*
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, ...
, the unit of currency
*
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- ...
References
External links
*
Economy of Eritrea
Eritrea
Eritrea ( ; ti, ኤርትራ, Ertra, ; ar, إرتريا, ʾIritriyā), officially the State of Eritrea, is a country in the Horn of Africa region of Eastern Africa, with its capital and largest city at Asmara. It is bordered by Ethiopia ...
Organisations based in Asmara
1914 establishments in Eritrea
Banks established in 1914
Banks of Eritrea
Banking in Eritrea
{{Eritrea-stub