Central Bank of Suriname: Governing Monetary and Economic Affairs
The Central Bank of Suriname (Dutch: Centrale Bank van Suriname, or CBvS) serves as the highest monetary authority in the nation. Based in Paramaribo, this institution is the primary governing body responsible for managing the country's monetary and economic affairs, ensuring the financial system remains functional and stable.
Key Facts
- Established: April 1, 1957
- Ownership: 100% state-owned
- Governor: Maurice Roemer
- Currency: Surinamese dollar (SRD)
- Reserves: 670 million USD (as of 2022)
- Headquarters: Waterkant, Paramaribo, Suriname
Legislative Foundation and Core Mandate
The operational framework of the CBvS was formally legislated under the Bank Act of 1956. As the principal monetary authority, the bank is tasked with several critical responsibilities designed to maintain national economic health.
Primary objectives include the promotion of the value and stability of the national currency, the management of money circulation, and the safeguarding of activities within private banking and credit unions. Furthermore, the bank works toward achieving balanced socio-economic development across the country.
Organizational Structure
The Central Bank is led by a Governor and is organized into three specialized directorates to ensure comprehensive oversight of the financial sector:
- Banking Operations: Manages the technical and operational aspects of the banking system.
- Monetary and Economic Affairs: Focuses on policy, currency stability, and economic analysis.
- Supervision: Oversees the regulation of financial institutions to ensure safety and compliance.
Institutional Overview
| Attribute | Detail |
|---|---|
| Official Name | Centrale Bank van Suriname |
| ISO 4217 Currency Code | SRD |
| Legal Basis | Bank Act of 1956 |
| Official Website | www.cbvs.sr |
Frequently Asked Questions
When was the Central Bank of Suriname established?
The CBvS was established on April 1, 1957.
Who is the current Governor of the CBvS?
The Governor of the Central Bank of Suriname is Maurice Roemer.
What is the official currency of Suriname?
The official currency is the Surinamese dollar, identified by the ISO 4217 code SRD.
What are the primary responsibilities of the CBvS?
The bank is responsible for promoting currency stability, managing money circulation, supervising private banking and credit unions, and supporting balanced socio-economic development.
How is the Central Bank of Suriname structured?
The bank is headed by a Governor and divided into three directorates: Banking Operations, Monetary and Economic Affairs, and Supervision.