National Bank of Rwanda

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The National Bank of Rwanda (French: Banque Nationale du Rwanda) is the central bank of Rwanda. The bank was founded in 1964 and is quartered in Kigali; it operates Rwanda's principal securities exchange, the Rwanda Over The Counter Exchange.^[1]

The Bank is active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion. It is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration^[2] during the 2011 Global Policy Forum held in Mexico.

History

The central bank, whose name is abbreviated to "BNR", evolved step by step:

Royal Decree of 27th July 1887 establishes the franc as the money of account for the Independent State of Congo, a.k.a. Congo Free State, and Rwanda is included as well.
Heligoland Agreement of 1890 puts Rwanda and Burundi within the German sphere of influence in Africa; the German East African rupie is the official currency; circulation of the French franc continues nonetheless.
As a result of Belgium's actions, the Belgian Congo becomes a member of the Latin Monetary Union in 1908.
Bank of Belgian Congo established in 1909.
Bank of Belgian Congo issues its first banknotes in 1912.
Rwanda and Burundi attached to the Congo Franc Zone following Germany's defeat in World War I; 1927
Colony of Belgian Congo and the Bank of Belgian Congo create a new relationship; 1927–1952
- World War II era: temporary involvement of the Bank of England; Congo franc is listed in London.
Belgian Congo and Ruanda-Urundi Central Bank (BCCBRU) 1952 - 1960
Banque d' Emission du Rwanda et du Burundi (BERB) / (Issuing Bank of Rwanda and Burundi) - 1960 - 1964
Royal Bank of Burundi (BRB) and the Banque Nationale du Rwanda (BNR) open in 1964.
(Banque de la République du Burundi (BRB) opens in 1966.)

References

↑ "Business | Rwanda opens own stock exchange". BBC News. 2008-01-31. Retrieved 2013-08-01.
↑ "Maya Declaration Urges Financial Inclusion for World's Unbanked Populations - RIVIERA MAYA, Mexico, Sept. 30, 2011 /PRNewswire-USNewswire/". Prnewswire.com. 2011-09-30. Retrieved 2013-08-01.

1. A brief survey of Rwanda's monetary history, from Banque Nationale du Rwanda site

External links

(French) (English) Official site: Banque Nationale du Rwanda

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National Bank of Rwanda

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