Bank of the Republic of Burundi

Updated on Nov 01, 2023

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The Bank of the Republic of Burundi (French: Banque de la République du Burundi, BRB) is the central bank of Burundi. The bank was established in 1966 and its offices are in Bujumbura.

The Bank is active in promoting financial inclusion policy and is a 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 during the 2011 Global Policy Forum held in Mexico.

The Current governor is Jean Ciza

History

The central bank evolved step by step:

Royal Decree of 27th July 1887 establishes the franc as the money of account for the Independent State of Congo, and Burundi is included as well.

Heligoland Agreement of 1890 puts Rwanda and Burundi within the German sphere of influence in Africa; 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

Banque du Royaume du Burund (BRB) / Royal Bank of Burundi and the Banque Nationale du Rwanda (BNR) open in 1964.

Banque de la République du Burundi (BRB) opens in 1966.

References

Bank of the Republic of Burundi Wikipedia

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