Central Bank of Solomon Islands
Encyclopedia
The Central Bank of Solomon Islands is the central bank
of the Solomon Islands
. The Bank was established in February 1983 under the Central Bank of Solomon Islands Act 1976.
Its official functions, under the Act, are:
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 the Solomon Islands
Solomon Islands
Solomon Islands is a sovereign state in Oceania, east of Papua New Guinea, consisting of nearly one thousand islands. It covers a land mass of . The capital, Honiara, is located on the island of Guadalcanal...
. The Bank was established in February 1983 under the Central Bank of Solomon Islands Act 1976.
Its official functions, under the Act, are:
- "to regulate the issue, supply, availability and international exchange of money;
- to advise the Government on banking and monetary matters;
- to promote monetary stability;
- to supervise and regulate banking business;
- to promote a sound financial structure; and
- to foster financial conditions conducive to the orderly and balanced economic development of Solomon Islands"