BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  Central Bank of Barbados Central Bank of Barbados The Central Bank of Barbados was established in May 1972 by the Government of Barbados to advance the pace of economic development in the country. Prior to 1972, the East Caribbean Currency Authority (ECCA) was the institution responsible for the management of monetary matters for most of the smaller Eastern Caribbean countries, including Barbados.     The Central Bank of Barbados has become the premier financial institution in the country and its main policy is to formulate, in association with Government, monetary and fiscal policies to assist with the country’s economic development programme. 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; and    Fostering credit and exchange conditions conducive to the orderly and sustained economic development of Barbados. With respect to financial institutions, the Central Bank:    Determines what proportion of their deposits they should invest in Barbados Government Treasury Bills and Debentures;    Fixes the exchange rate and commission charges by the commercial banks dealing in foreign currencies;    Regulates commercial banks’ lending and the deposit rates of interests;    Provides banking services to commercial banks, Government, financial institutions and international financial institutions; and   Acts as financial adviser to Government Statutory institutions which are required by law to consult with the Central Bank before entering any credit operations. The Bank’s head office is located in the capital city of Bridgetown and the currency used is Barbados dollars. The Central Bank operates as the banknote issuing authority for Barbadian currency.   Central Bank of Barbados HQ Address: Tom Adams Financial Centre Spry Street Bridgetown Barbados West Indies BB11126 Telephone: (246) 436-6870 Swift Code: (246) 437-3334 Website: www.centralbank.org.bb Currency: Barbadian dollar Banking Hours: Monday - Thursday : 8.00am - 3.00pm                    Friday : 8.00am - 5.00pm   A Board of Directors comprising the Governor, the Director of Finance and Planning and no more than five other Directors, is responsible for the policy and general administration of the Bank. The Governor is appointed for a period not exceeding five years and is eligible for a reappointment. The Minister of Finance is also responsible for appointing the other Directors. Throughout its history, the Bank has become the premier financial institution in the country with an enviable record of promoting monetary and fiscal policies that have assisted with the countries economic development.   Commercial banks and bank holding companies licensed to operate in Barbados: Bank of Nova Scotia Citicorp Merchant Bank Limited RBTT Bank (Barbados) Limited Barbados National Bank Inc FirstCaribbean International Bank Ltd RBC Royal Bank of Canada Butterfield Bank (Barbados) Limited         International Banks licensed in Barbados: Amicorp Bank and Trust Limited Amphora Bank & Trust Corporation Bank of Nova Scotia Bank of Montreal (Barbados) Ltd Canaccord International Ltd Caribbean Investment Bank Incorporated CIBC Offshore Banking Services Corporation Cidel Bank & Trust Inc Concorde Bank Ltd Continental Bank Corporation Dancap Bank (Barbados) Inc. DGM Bank & Trust Inc Exterran Finance Company Limited Front Street Private Bank (Barbados) Limited GraceKennedy Money Services Caribbean SRL Glenhuron Bank Limited Great Pacific Bank Limited Occidental Bank (Barbados) Limited Helmsdale Bank Corporation Infinium Private Bank (Barbados) Ltd Oxbridge Bank & Trust SCC J & T Bank and Trust Inc Mancal Bank (Barbados) Inc. Mercom Bank Limited Pan Atlantic Bank & Trust Limited PDG Bank Limited Royal Bank of Canada (Caribbean) Corporation RBC Royal Bank Holdings (Barbados) Limited Soutterham Bank Corporation Summit International Bank limited Southwold Bank & Trust Limited St. Lawrence Bank Incorporated Trilon International Inc The Coutts Halsall International Bank Inc. The Victoria Bank (Barbados) Incorporated Toronto Dominion International Inc Total Banking Corporation Transcom Bank (Barbados) Limited Windermere Bank & Trust Limited FirstCaribbean International Wealth Management Bank (B’dos) Limited     Republic Bank Trinidad & Tobago (Barbados) Limited     Intercontinental Investment & Development Bank     Premier Bank International Trust (Barbados) Limited     DISCLAIMER The content comes from Internet, reasonable efforts are made to maintain accuracy of information published. However, information could contain errors or inaccuracies and is presented without warranty and statutory means. No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise. All trademarks, logos, brand names and copyrights are the property of their respective owners. © 2011 - 2022 BankHeadOffice.com ® All Rights Reserved