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Central Bank of Solomon Islands

 

Central Bank of Solomon Islands Logo

Central Bank of Solomon Islands (CBSI) was established in February 1983 under the Central Bank of Solomon Islands Act 1976 which was amended in 1985 to, amongst other things, strengthen the Bank’s supervisory capabilities and expand its central banking functions. Besides being charged with the responsibility of acting as Banker to the Government and Commercial Banks, the Central Bank, as agent for the Government, is responsible for conducting monetary policy.

 
 

CBSI, as central bank of Solomon Islands, is the premier financial institution in an economy. Its primary functions are to formulate and implement monetary policies and to exercise discretionary control over the monetary system. Monetary policies are designed to achieve various objectives namely, sustained and stable economic growth; a high level of employment; stability in the purchasing power of the local currency; and a viable balance of payments position. In small, open developing countries like Solomon Islands, these objectives could be conflicting and often time involve some trade-offs.

The Central Bank of Solomon Islands Act states that it shall be the duty of the Bank:


  •  to regulate the issue, supply, availability and international exchange of money;
  •  to advise the Government on banking and monetary matters;
  •  to promote monetary stability;
  •  to supervise and regulate banking business;
  •  to promote a sound financial structure; and
  •  to foster financial conditions conducive to the orderly and balanced economic development of Solomon Islands.

In achieving the functions as mentioned above, the Bank commits itself to providing effective support functions through a sound banking and financial control system, appropriate information system and the development of competent and qualified staff.

Central Bank of Solomon Islands HQ Location Map

Central Bank of Solomon Islands
HQ Address: P.O. Box 634
Honiara
Solomon Islands
Tel: +677 21791
Fax: +677  23513
Website: www.cbsi.com.sb
Email: info@cbsi.com.sb
Currency: Solomon Islands dollar
Banking Hours:
Monday - Friday : 8.30am - 3.00pm
 

 

Central Bank of Solomon Islands is responsible for achieving the monetary policy objective in Solomon Islands, including determining the strategy, instrument and operational means for doing so, and for maintaining the stability and integrity of the monetary system of Solomon Islands.
 

List of banks governed by the Central Bank of Solomon Islands
» ANZ Solomon Islands » National Bank of Solomon Islands » Westpac Solomon Islands

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