National Bank of Rwanda

The National Bank of Rwanda (Kinyarwanda: Banki Nkuru Y'u Rwanda, French: Banque Nationale du Rwanda) is the central bank of Rwanda. The bank was founded in 1964.[3] The current governor of the bank is John Rwangombwa.[4]

National Bank of Rwanda
Banki Nkuru Y'u Rwanda
Banque Nationale du Rwanda
HeadquartersKN6 Avenue
Kigali, Rwanda
Established1964
Ownership100% state ownership[1]
GovernorJohn Rwangombwa
Central bank ofRwanda
CurrencyRwanda franc
RWF (ISO 4217)
ReservesUS$1 billion (July 2016)[2]
WebsiteHomepage

Location

It is quartered at the National Bank of Rwanda Building, on KN6 Avenue in the central business district of Kigali, the capital and largest city in Rwanda.[5] The coordinates of the bank's headquarters are 01°56'56.0"S, 30°03'49.0"E (Latitude:-1.948889; Longitude:30.063611).[6]

Overview

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 during the 2011 Global Policy Forum held in Mexico.[7]

Governors

Governors of the National Bank of Rwanda[8]

  • J. A Brandon: 1964-1965
  • Masaya Hattori: 1965-1971
  • Jean Berchmans Birara: 1971-1985
  • Augustin Ruzindana: 1985-1990
  • Denis Ntirugirimbabazi: 1991-1994
  • Gérard Niyitegeka: 1994-1995
  • François Mutemberezi: 1996-2002
  • François Kanimba: 2002-2011
  • Claver Gatete: 2011-2013
  • John Rwangombwa: After 2013

History

The central bank, whose name is abbreviated to "BNR", evolved step by step:[3]

  • 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
  • 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.)

See also

References
  1. https://d-nb.info/1138787981/34
  2. Martin Luther Oketch (20 July 2016). "East African central banks to rebuild forex reserves". Daily Monitor. Kampala. Retrieved 28 September 2016.
  3. National Bank of Rwanda (28 September 2016). "A Brief Survey of Rwanda's Monetary History". Kigali: National Bank of Rwanda. Retrieved 28 September 2016.
  4. Kabona, Esiara (27 September 2016). "Rwanda retains key repo rate at 6.5 percent". The EastAfrican. Nairobi. Retrieved 28 September 2016.
  5. Google (28 September 2016). "Location of National Bank of Rwanda, Kigali" (Map). Google Maps. Google. Retrieved 28 September 2016.
  6. Google (28 September 2016). "The Geographical Coordinates of Headquarters of National Bank of Randa" (Map). Google Maps. Google. Retrieved 28 September 2016.
  7. Alliance for Financial Inclusion (30 September 2011). "Maya Declaration Urges Financial Inclusion for World's Unbanked Populations". Riviera Maya, Mexico: Prnewswire Quoting Alliance for Financial Inclusion. Retrieved 28 September 2016.
  8. "BNR: Governor". web.archive.org. 11 October 2016.
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