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_(cropped).jpg) CBB headquarters in Bridgetown | |
| Headquarters | Tom Adams Financial Centre, Spry Street,Bridgetown,Saint Michael |
|---|---|
| Coordinates | 13°05′56″N59°36′47″W / 13.098828°N 59.613030°W /13.098828; -59.613030 |
| Established | 1972 |
| Ownership | 100%state ownership[1] |
| Governor | Kevin Greenidge |
| Central bank of | Barbados |
| Currency | Barbadian dollar BBD (ISO 4217) |
| Reserves | 470 million USD[1] |
| Interest on reserves | 4.5% |
| Website | www |
TheCentral Bank of Barbados (CBB) is the nationalmonetary authority andcentral bank responsible for providing advice to theGovernment of Barbados on banking and otherfinancial andmonetary matters. The Central Bank operates as the banknote issuing authority for Barbadian currency.
The Central Bank of Barbados was established by Act ofparliament on 2 May 1972.[2] Prior to its establishment,Barbados' monetary policies were governed through its membership in theEastern Caribbean Currency Authority (ECCA).
In 2022, the CBB adoptedpolymer banknotes.[3] In 2026, the CBB introduced the nationalinstant payment system BiMPay.[4]
The name of the Central Bank's building is the Tom Adams Financial Centre, which is a ten-storey building located on Spry Street inBridgetown. As part of the complex, there is a 491-seat theatre/auditorium known as theFrank Collymore Hall. The building was constructed between 1982 and 1986 and it was opened September 18, 1986.[5]
TheGlobal Competitiveness Report for 2008–09 ranked the soundness of Barbados'scommercial banks as 21st out of 134 global jurisdictions assessed.[6][7]
At its inception the Central Bank of Barbados had certain objectives.
These were:
Today the regulatory capacity of the central bank handles the issuance of Barbadianbanknotes 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.
TheBarbadian economy is reviewed regularly by several notableWall Street investment firms including:PricewaterhouseCoopers,Standard & Poor's,[8][9] andMoody's.[10]
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The head of the Central Bank is the Governor, who is appointed by theMinister of Finance.[11]
The current Governor of the Central Bank of Barbados is Dr.Kevin Greenidge as of March 1, 2023.[12]
The Bank also has three Deputy Governors in the persons of Mr. Alwyn Jordan, Ms. Michelle Doyle and Mr. Elson Gaskin.
Section 8.07: Soundness of banks 21 (out of 134)
CANBERRA (Reuters) - Canada has the world's soundest banking system, closely followed by Sweden, Luxembourg and Australia, a survey by the World Economic Forum has found as financial crisis and bank failures shake world markets. [...] The United States, where some of Wall Street's biggest financial names have collapsed in recent weeks, rated only 40, just behind Germany at 39, and smaller states such as Barbados, Estonia and even Namibia, in southern Africa.
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