The Central Bank of Barbados was created by the Government of Barbados in May 1972 to drive the pace of economic development in the country. Today, the Bank has become a leading financial institution in the country, and its main policy is to formulate fiscal policy and assist the country's economic development plan.
The Central Bank of Barbados started with certain goals:
1. Promote currency stability
2. Promote sound financial structure
3. Promote the development of currency and capital markets
4. Convert commercial bank credit into productive activities
5. To promote credit and quid pro quo for the orderly and sustained economic development of Barbados.
The vision of the Central Bank of Barbados is to create and maintain a caring, happy and dynamic world-class organization in a collaborative culture.
In order to implement policies smoothly and achieve goals, the central bank performs the following functions:
1. Regulate the issuance, supply and validity of currency
2. As a banker for government and commercial banks
3. Advising the government on monetary and fiscal matters
4. Manage the island's foreign exchange reserves
5. Provide accurate and timely statistical data to the government and the public
6. Manage public debt
7. Supervise the business of all financial institutions, especially commercial banks
Forex Authorized Dealers and Custodians:
Address: Tom Adams Financial Centre, Spry Street, Bridgetown Barbados, West Indies
Email: [email protected] (General Concerns); [email protected] (Regulatory Concerns)
Phone: (246) 436-6870
Fax: (246) 228-3861 (Forex Department)