Central Bank of Suriname explained

Bank Name In Local:Centrale Bank van Suriname
Ownership:100% state ownership[1]
Headquarters:Waterkant, Paramaribo, Suriname
President:Maurice Roemer
Leader Title:Governor
Bank Of:Suriname
Currency:Surinamese dollar
Currency Iso:SRD
Reserves:220 million USD

The Central Bank of Suriname (CBvS) (Dutch; Flemish: Centrale Bank van Suriname) is Suriname’s highest monetary authority and the country’s governing body in monetary and economic affairs.[2]

The Central Bank’s tasks were legislated in the Bank Act of 1956. Like other central banks, it is the principal monetary authority of the country. Other tasks include the promotion of the value and stability of the currency of Suriname, the provision of money circulation, the safeguarding of private banking and credit union activities, together with balanced socio-economic development.[3]

The Central Bank is headed by a Governor and divided into three directorates: Banking Operations, Monetary and Economic Affairs and Supervision.

History

After the start of Suriname’s political self-government from the Netherlands in 1954, changes were instigated to the country’s monetary system; on 1 April 1957, the Central bank of Suriname was established in Paramaribo and took over the issuing of currency.

Until 1957, De Surinaamsche Bank (DSB), which at that time was a subsidiary of the Dutch Nederlandsche Handel-Maatschappij and the largest commercial bank in Suriname, acted as default issuer of currency.[4]

Governors

Source:[6]

See also

External links

Notes and References

  1. Web site: Weidner . Jan . The Organisation and Structure of Central Banks . Katalog der Deutschen Nationalbibliothek. 2017. PDF.
  2. Web site: Belgian court orders company to repay millions to the Central Bank of Suriname . CNW Network . 23 Oct 2022 . 18 Aug 2023.
  3. Web site: Baptiste . Dionne . Suriname: 8-year jail term for former Central Bank Governor . Loop News . 1 Feb 2022 . 18 Aug 2023.
  4. Web site: The History of Money in Suriname . Centrale Bank van Suriname – Numismatic Museum . 5 July 2010 . 24 April 2010 . https://web.archive.org/web/20100424064329/http://www.cbvs.sr/english/museum/numis-infovoorz-geschiedenis%20geldwezen.htm . dead .
  5. Book: Chiefs of State and Cabinet members of foreign governments / National Foreign Assessment Center. Sept 1991.. HathiTrust. 2003.
  6. Web site: Directory – Centrale Bank van Suriname. https://web.archive.org/web/20150327213841/https://www.cbvs.sr/nl/over-cbvs/directory. dead. March 27, 2015. March 27, 2015.