The Reserve Bank of Vanuatu is the central bank of Vanuatu (an island country located in the South Pacific Ocean). It was initially known as the Central Bank of Vanuatu after the nation's independence from France and the United Kingdom.
Reserve Bank of Vanuatu Reserve Bank blong Vanuatu
The bank began operations on 1 January 1981 and was initially responsible for currency exchange.[citation needed] It established the Vatu as the national currency to replace the circulation of the New Hebrides franc and Australian dollar. The bank also replaced the role of the Banque Indosuez Vanuatu.[citation needed]
The institution's name was changed to the Reserve Bank of Vanuatu in May 1989 and its responsibility over the national banking industry was expanded.[citation needed]
The functions, powers and responsibilities of the RBV are specified in the Reserve Bank of Vanuatu Act [CAP 125] of 1980. The specific purposes of the RBV as spelled out in Section 3 of the Reserve Bank Act are to:
Regulate the issue, supply, availability and international exchange of money; Supervise and regulate banking business and the extension of credit; Advise the Government on banking and monetary matters; Promote monetary stability; Promote a sound financial structure; Foster financial conditions conducive to the orderly and balanced economic development of Vanuatu, and To regulate and supervise domestic and international (offshore) banks.
It is active in promoting financial inclusion policy and a member of the Alliance for Financial Inclusion.[2]
Board of directorsedit
Appointments to the Board of Directors of the RBV are governed by Section 8 of the Reserve Bank Act.
reserve, bank, vanuatu, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, this, article, needs, updated, please, help, update, this, article, reflect, recent, events, new. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages This article needs to be updated Please help update this article to reflect recent events or newly available information August 2020 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 Reserve Bank of Vanuatu news newspapers books scholar JSTOR January 2012 Learn how and when to remove this template message Learn how and when to remove this template message The Reserve Bank of Vanuatu is the central bank of Vanuatu an island country located in the South Pacific Ocean It was initially known as the Central Bank of Vanuatu after the nation s independence from France and the United Kingdom Reserve Bank of VanuatuReserve Bank blong VanuatuEstablished1 January 1981 42 years ago 1981 01 01 Ownership100 state ownership 1 GovernorSimeon AthyCentral bank ofVanuatuCurrencyVanuatu vatuVUV ISO 4217 Reserves260 million USD 1 Websitewww wbr rbv wbr gov wbr vuThe bank began operations on 1 January 1981 and was initially responsible for currency exchange citation needed It established the Vatu as the national currency to replace the circulation of the New Hebrides franc and Australian dollar The bank also replaced the role of the Banque Indosuez Vanuatu citation needed The institution s name was changed to the Reserve Bank of Vanuatu in May 1989 and its responsibility over the national banking industry was expanded citation needed Contents 1 Role 2 Board of directors 2 1 Current members 2 2 Governors 3 See also 4 References 5 External linksRole editThe functions powers and responsibilities of the RBV are specified in the Reserve Bank of Vanuatu Act CAP 125 of 1980 The specific purposes of the RBV as spelled out in Section 3 of the Reserve Bank Act are to Regulate the issue supply availability and international exchange of money Supervise and regulate banking business and the extension of credit Advise the Government on banking and monetary matters Promote monetary stability Promote a sound financial structure Foster financial conditions conducive to the orderly and balanced economic development of Vanuatu and To regulate and supervise domestic and international offshore banks It is active in promoting financial inclusion policy and a member of the Alliance for Financial Inclusion 2 Board of directors editAppointments to the Board of Directors of the RBV are governed by Section 8 of the Reserve Bank Act Current members edit Members of the board as of January 2016 3 Simeon Athy governor since October 2013 4 Anatole Hymak Marakon Alilee Georges Maniuri Jimmy NipoGovernors edit John A Howard General Manager Briton 1981 1982 Patrick Noel General Manager 1983 1984 Edward Fillingham 1985 1987 Franklyn Kere First Ni Vanuatu Governor 1988 1992 Jayant Virani Governor 1992 1993 Sampson Ngwele Governor 1993 1997 Andrew Kausiama Governor 1998 2003 Odo Tevi Governor 2003 2012 5 Simeon Athy Governor 2013 Source 6 See also editEconomy of Vanuatu Vanuatu vatu 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 10 October 2011 Archived from the original on 20 February 2012 Retrieved 23 February 2012 http www rbv gov vu index php option com content amp view article amp id 105 amp Itemid 180 amp lang en Accessed 7 January 2016 Vanuatu PM shuffles departmental heads Radio New Zealand International 14 October 2013 Retrieved 13 December 2013 Reserve Bank Governor Removed Vanuatu Daily Post 29 April 2013 Retrieved 7 May 2014 Previous Board Members rbv gov vu External links editOfficial site Reserve Bank of Vanuatu Retrieved from https en wikipedia org w index php title Reserve Bank of Vanuatu amp oldid 1185769502, wikipedia, wiki, book, books, library,
