Central Bank of Suriname
Encyclopedia
The Central Bank of Suriname is Suriname
's highest monetary authority and the country's governing body in monetary and economic affairs.
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 a balanced social-economic development.
The Central Bank is headed by a Governor and divided into three directorates: Banking Operations, Monetary and Economic Affairs and Supervision.
in 1954, changes were instigated to the countries monetary system and on 1 April 1957 the Central bank of Suriname was established in Paramaribo
and took over the issuing of currency.
Until 1957 the De Surinaamsche Bank
(DSB), which at that time was a subsidiary of Dutch Nederlandsche Handel-Maatschappij
and the largest comercial bank in Suriname, acted as default issuer of currency.
Suriname
Suriname , officially the Republic of Suriname , is a country in northern South America. It borders French Guiana to the east, Guyana to the west, Brazil to the south, and on the north by the Atlantic Ocean. Suriname was a former colony of the British and of the Dutch, and was previously known as...
's highest monetary authority and the country's governing body in monetary and economic affairs.
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 a balanced social-economic development.
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 Surinames political self-government from the NetherlandsNetherlands
The Netherlands is a constituent country of the Kingdom of the Netherlands, located mainly in North-West Europe and with several islands in the Caribbean. Mainland Netherlands borders the North Sea to the north and west, Belgium to the south, and Germany to the east, and shares maritime borders...
in 1954, changes were instigated to the countries monetary system and on 1 April 1957 the Central bank of Suriname was established in Paramaribo
Paramaribo
Paramaribo is the capital and largest city of Suriname, located on banks of the Suriname River in the Paramaribo District. Paramaribo has a population of roughly 250,000 people, more than half of Suriname's population...
and took over the issuing of currency.
Until 1957 the De Surinaamsche Bank
De Surinaamsche Bank
De Surinaamsche Bank or DSB is one of the largest banks in Suriname.-History:*1865: Simon Abendanon founds De Surinaamsche Bank in Paramaribo...
(DSB), which at that time was a subsidiary of Dutch Nederlandsche Handel-Maatschappij
Nederlandsche Handel-Maatschappij
The Netherlands Trading Society was a Dutch trading company established in 1824 by King Willem I of the Netherlands to promote and develop trade, shipping and agriculture...
and the largest comercial bank in Suriname, acted as default issuer of currency.
See also
- Surinamese dollar
- Economy of SurinameEconomy of SurinameSuriname was ranked the 124th safest investment destination in the world in the March 2011 Euromoney Country Risk rankings.- Bauxite :The backbone of the economy of Suriname is the export of aluminium oxide and small amounts of aluminium produced from bauxite mined in the country...