National Bank of the Republic of Belarus

The National Bank of the Republic of Belarus (NBRB; Belarusian: Нацыянальны банк Рэспублікі Беларусь; Russian: Национальный банк Республики Беларусь) is the central bank of Belarus, located in Minsk. The bank was created in 1922 under the name of "Belarusian Republican Bank" by the Soviet of People's Commissars of Byelorussia, but soon worked under the direction of the State Bank of the USSR. Undergoing reorganizations in 1959 and 1987, the bank appeared in its current form in 1990 after the passage of banking rules upon declaring independence from the Soviet Union.

National Bank of the Republic of Belarus
Нацыянальны банк Рэспублікі Беларусь  (Belarusian)
Национальный банк Республики Беларусь  (Russian)
HeadquartersMinsk, Belarus
Established1992[1]
Ownership100% state ownership[2]
ChairmanPavel Kalaur
Central bank ofRepublic of Belarus
CurrencyBelarusian ruble
ReservesUS$2,230 million[2]

The main objectives of the National Bank shall be as follows:

  • protecting the Belarusian ruble and ensuring its stability, including its purchasing power and the rate of exchange relative to foreign currencies;
  • maintaining the stability of the banking system of the Republic of Belarus; and
  • ensuring efficient, reliable, and secure functioning of the payment system.

The bank's activities are regulated in the Banking code enacted in October 25, 2000. Article 25 of the Banking Code, provides that one of the main functions of the NBRB is to ensure efficient, reliable and safe functioning of the interbank settlement system, and prescribes procedures for cash and non-cash settlements in the Republic of Belarus.

Gaining profit shall not be the main objective of the National Bank.

National Bank is accountable to the President of the Republic of Belarus.

Financial Inclusion

The National Bank of the Republic of Belarus is engaged in developing policies to promote financial inclusion and is a member of the Alliance for Financial Inclusion.[3]

The institution made a Maya Declaration Commitment on 3 May 2013 where it outlined a quantifiable commitment to increase the number of adults with bank accounts from its current level of 70 percent to 85 percent by 2015. Additionally, the bank will seek to strengthen financial literacy efforts through specific activities set to be implemented under the Joint Action Plan of Government Agencies and Financial Markets Participants on Improving Financial Literacy of the Population of the Republic of Belarus for 2013–2018.[4]

NBRB

Chairmen of the National Bank
  • Nikolai Omelyanovich (in Belarusian: Mikalai Amelyanovich; 1986, as Belkontora of Gosbank–1991)
  • Stanislav Bogdankevich (in Belarusian: Stanislau Bahdankev'; 1991–1995)[5]
  • Tamara Vinnikova (in Belarusian: Tamara Vinnikava; 1996–1997)
  • Gennady Aleynikov (in Belarusian: Hyenadz' Aleynikau; 1997–1998)
  • Pyotr Prokopovich (in Belarusian: Pyotr Prakapovich; 1998–2011)
  • Nadezhda Yermakova (in Belarusian: Nadzeya Yermakova; 2011–2014)
  • Pavel Uladzimiravich Kalaur (Belarusian: Павел Уладзіміравіч Калаур), or Pavel Vladimirovich Kallaur (Russian: Павел Владимирович Каллаур (from 2014)

See also

References
  1. Waits, Douglas (8 October 2013). "National Bank of Belarus launches financial literacy campaign". Cistran Finance. Archived from the original on 29 October 2013. Retrieved 25 October 2013.
  2. https://d-nb.info/1138787981/34
  3. "AFI official website". AFI. 2011-10-10. Retrieved 2012-02-23.
  5. Pastor, Mr Gonzalo C. (April 22, 2001). "The IMF and the Ruble Area, 1991-93". International Monetary Fund – via Google Books.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.