Bank of the Republic of Haiti
Encyclopedia
The Bank of the Republic of Haiti is the central bank
of Haiti
.
In October 1910, a concession was granted to a consortium of French, German and American businessmen for the creation of a new bank: the National Bank of the Republic of Haiti . In 1979, BNRH was split into two financial institutions: the National Bank of Credit , a commercial bank, and BRH.
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...
of Haiti
Haiti
Haiti , officially the Republic of Haiti , is a Caribbean country. It occupies the western, smaller portion of the island of Hispaniola, in the Greater Antillean archipelago, which it shares with the Dominican Republic. Ayiti was the indigenous Taíno or Amerindian name for the island...
.
History
The Bank of the Republic of Haiti was founded after the independence of Haiti from France. The oldest reference to a bank in Haiti can be attributed to a short correspondence exchanged during September 1825 between a foreign tradesman, Nicholas Kane, the Secretary of State Balthazar Inginac about a proposal made by George Clark in the name of a German group, Hermann Hendrick and Co., to establish a bank in Haiti. However, the proposal was never accepted, and Hermann Hendrick and Co. was never established.In October 1910, a concession was granted to a consortium of French, German and American businessmen for the creation of a new bank: the National Bank of the Republic of Haiti . In 1979, BNRH was split into two financial institutions: the National Bank of Credit , a commercial bank, and BRH.