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Central Bank of Barbados

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Established  1972
Interest on reserves  4.5%
Founded  1972
Central bank of  Barbados
Governor  Dr Delisle Worrell
Website  www.centralbank.org.bb
Headquarters  Bridgetown
Central Bank of Barbados httpsca33f332e2199349c49cdc74b5af55c9b2a1bd889
Currency  Barbados dollar BBD (ISO 4217)
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Dfi conference allan wright central bank of barbados


The Central Bank of Barbados (CBB) is the national monetary authority responsible for providing advice to government of Barbados on banking and other financial and monetary matters. The Central Bank of Barbados, was established by Act of parliament on 2 May 1972. Prior to the establishment of CBB, Barbados' monetary policies were governed through its membership in the Eastern Caribbean Currency Authority (ECCA). The Central Bank operates as the banknote issuing authority for Barbadian currency.

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The name of the Central Bank's building is the Tom Adams Financial Centre, which is a ten-storey building located on Spry Street in Bridgetown. As part of the complex, there is a 491-seat theatre/auditorium known as the Frank Collymore Hall. The building was constructed between 1982 and 1986 and it was opened September 18th 1986.

The Global Competitiveness Report for 2008-09 ranked the soundness of Barbados's commercial banks as 21st out of 134 global jurisdictions assessed.

Positive vibes august 2015 dr worrell governor central bank of barbados


Role

At its inception the Central Bank of Barbados had certain objectives.

These were:

  • Promoting monetary stability
  • Promoting a sound financial structure
  • Fostering development of the money and capital markets
  • Channelling commercial bank credit into productive activities
  • Fostering credit and exchange conditions conducive to the orderly and sustained economic development of Barbados.
  • Today the regulatory capacity of the central bank handles the issuance of Barbadian banknotes and coins, and licensing of agencies such as: banks, investment businesses, depository trust and finance companies. It also undertakes supervision of Barbadian financial institutions, credit worthiness of the financial system, administering of the international reserves, and reporting regularly to the country on the national finances.

    The Barbadian economy is reviewed regularly by several notable Wall Street investment firms including: PricewaterhouseCoopers, Standard & Poor's, and Moody's.

    Organisation

    The head of the Central Bank is the Governor, who is appointed by the Bank's Board of Directors. The current Governor of the Central Bank of Barbados is Dr Delisle Worrell as of November 2009.

    The Bank also has two Deputy Governors in the person of Mr. Cleviston Haynes who was appointed in 2009 and Mr. Elson Gaskin who has been acting Deputy Governor since November 21, 2016 consequent upon the retirement of former Deputy Governor Mr. Harold Codrington.

    Past Central Bank Governors

  • Sir Courtney Blackman
  • Mr Winston Cox
  • Dr Kurleigh King
  • Mr Calvin Springer
  • Dr Marion Vernese Williams (2005–09)
  • Awards of the CBB

  • The Frank Collymore Literary Endowment
  • References

    Central Bank of Barbados Wikipedia


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