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Central Bank of the Congo

The Central Bank of the Congo (French: Banque Centrale du Congo, Lingala: Ndaku Monene ya Bokéngeli Mbongo ya Mboka Kongo) is the central bank of the Democratic Republic of the Congo. The bank's main offices are on Boulevard Colonel Tshatshi in La Gombe in Kinshasa.

Central Bank of the Congo
Banque Centrale du Congo
Bank logo
HeadquartersKinshasa, Democratic Republic of the Congo
Established1961
Ownership100% state ownership[1]
PresidentMalangu Kabedi Mbuyi
Central bank ofDemocratic Republic of the Congo
CurrencyCongolese franc
CDF (ISO 4217)
Reserves770 million USD[1]
Preceded byBanque du Zaïre
Websitewww.bcc.cd
Seat of the Central Bank in Kinshasa

The bank is engaged in developing policies to promote financial inclusion and is a member of the Alliance for Financial Inclusion.[2] On 5 May 2012 the Central Bank of the Democratic Republic of Congo announced it would be making specific commitments to financial inclusion under the Maya Declaration.

History edit

 
 
500 francs, issued by the Bank of the Belgian Congo, 1943 (obverse and reverse)

On 13 October 1960, the newly established Democratic Republic of the Congo issued an executive order creating the Conseil monétaire de la République Démocratique du Congo,[3] which took over the Congolese operations of the Banque Centrale du Congo Belge et du Ruanda-Urundi (BCCBRU). The Conseil monétaire evolved in 1964 into the Banque Nationale du Congo, the country's new central bank.

When the Congo changed its name to Zaire in 1971, the Banque Nationale du Congo became the Banque du Zaïre (Bank of Zaire). Then in 1997, when the country's name became the Democratic Republic of the Congo, the bank took its current name.

Regional operations edit

The central bank operates a network of regional branches across the DRC, the largest country in Sub-Saharan Africa. Branches can be found in Lubumbashi, Goma, Kamina, Kasumbalesa, Kikwit, Tshikapa, Ilebo and Matadi. In cities where the central bank is not present, a commercial bank can be appointed to represent it; Trust Merchant Bank performs such a role in Likasi and Kolwezi.

See also edit

References edit

  1. ^ a b Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. ^ . AFI Global. 2011-10-10. Archived from the original on 2012-08-22. Retrieved 2012-02-23.
  3. ^ Jésus Ngumba (2010), Présentation du système financier congolais, University of Kinshasa

Sources edit

  • Banque du Congo belge. 1959. Banque du Congo belge, 1909-1959. Bruxelles, Editions L. Cuypers

External links edit

  • (in French) Official site of Banque Centrale du Congo 2011-01-16 at the Wayback Machine

central, bank, congo, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, scholar, jstor, octob. This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Central Bank of the Congo news newspapers books scholar JSTOR October 2022 Learn how and when to remove this message The Central Bank of the Congo French Banque Centrale du Congo Lingala Ndaku Monene ya Bokengeli Mbongo ya Mboka Kongo is the central bank of the Democratic Republic of the Congo The bank s main offices are on Boulevard Colonel Tshatshi in La Gombe in Kinshasa Central Bank of the CongoBanque Centrale du CongoBank logoHeadquartersKinshasa Democratic Republic of the CongoEstablished1961Ownership100 state ownership 1 PresidentMalangu Kabedi MbuyiCentral bank ofDemocratic Republic of the CongoCurrencyCongolese francCDF ISO 4217 Reserves770 million USD 1 Preceded byBanque du ZaireWebsitewww wbr bcc wbr cd Seat of the Central Bank in Kinshasa The bank is engaged in developing policies to promote financial inclusion and is a member of the Alliance for Financial Inclusion 2 On 5 May 2012 the Central Bank of the Democratic Republic of Congo announced it would be making specific commitments to financial inclusion under the Maya Declaration Contents 1 History 2 Regional operations 3 See also 4 References 5 Sources 6 External linksHistory edit nbsp nbsp 500 francs issued by the Bank of the Belgian Congo 1943 obverse and reverse On 13 October 1960 the newly established Democratic Republic of the Congo issued an executive order creating the Conseil monetaire de la Republique Democratique du Congo 3 which took over the Congolese operations of the Banque Centrale du Congo Belge et du Ruanda Urundi BCCBRU The Conseil monetaire evolved in 1964 into the Banque Nationale du Congo the country s new central bank When the Congo changed its name to Zaire in 1971 the Banque Nationale du Congo became the Banque du Zaire Bank of Zaire Then in 1997 when the country s name became the Democratic Republic of the Congo the bank took its current name Regional operations editThe central bank operates a network of regional branches across the DRC the largest country in Sub Saharan Africa Branches can be found in Lubumbashi Goma Kamina Kasumbalesa Kikwit Tshikapa Ilebo and Matadi In cities where the central bank is not present a commercial bank can be appointed to represent it Trust Merchant Bank performs such a role in Likasi and Kolwezi See also editEconomy of the Democratic Republic of the Congo List of governors of the Banque Centrale du Congo Central banks and currencies of Africa List of central banksReferences edit a b Weidner Jan 2017 The Organisation and Structure of Central Banks PDF Katalog der Deutschen Nationalbibliothek AFI members AFI Global 2011 10 10 Archived from the original on 2012 08 22 Retrieved 2012 02 23 Jesus Ngumba 2010 Presentation du systeme financier congolais University of KinshasaSources editBanque du Congo belge 1959 Banque du Congo belge 1909 1959 Bruxelles Editions L CuypersExternal links edit in French Official site of Banque Centrale du Congo Archived 2011 01 16 at the Wayback Machine Retrieved from https en wikipedia org w index php title Central Bank of the Congo amp oldid 1210274191, wikipedia, wiki, book, books, library,

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