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Central Bank of Cuba

 

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Established (as Banco National de Cuba) 1950, reorganised in 1961, 1966, 1975, 1984. Re-established in 1997 as Central Bank of Cuba, a state bank with monetary and foreign exchange authority. Since its beginning, Banco Central de Cuba has paid special attention to the improvement of the payment system in Cuba.

 
 


In Decree-Law No. 172, of 1997, by which the institution was created, it is granted among its functions, that of to seek for the adequate performance and stability of payment systems and to dictate the rules and provisions accordingly. Within the framework of its functions and taking into account the updating process that payment systems are undergoing in the world, Banco Central de Cuba has set up its strategy on that issue.

The banking supervisory body was set up as of the constitution of Banco Central de Cuba. Bank supervision is responsible for the care of the financial system’s health, effected through on and off site inspections of the banking and non-banking financial institutions authorised to operate in the territory.


Among others, bank supervision has also the function of analysing requests for licenses to operate as financial institutions in the territory.
 

Central Bank of Cuba HQ Location Map

Central Bank of Cuba
HQ Address: Municipio Habana Vieja La Habana
Ciudad de la Habana Cuba
Telephone: +537 860 4811
Facsimile: +537 863 4061
Website: www.bc.gov.cu
Swift Code: BCCUCUHH
Currency: Cuban Peso
Banking Hours: Mon - Fri 0800 - 1500
 

 

Similar to other Central Banks in the world, the functions of Central Bank of Cuba include providing banking services to the Government of Cuba and financial institutions, issuing the domestic currency, regulating commercial banks and other financial institutions, providing economic advice to the Government, conducting research and publishing information on monetary and other economic developments. Only notes and coins issued by the Central Bank shall be legal tender in Cuba.
 
 

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