Under the Central Bank of Barbados Act, 2020-30, the Central Bank has two objectives:
- Maintain the value of the currency
- Promote financial stability, which is conducive to the orderly and sustained economic development of 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.
The Central Bank of Barbados (CBB) is not a commercial bank and therefore does not offer banking services to the public. Rather, we are responsible for promoting monetary stability, promoting a sound financial structure, fostering development of the money and capital markets, channeling commercial bank credit into productive activities and fostering credit and exchange conditions conducive to the orderly and sustained economic development of Barbados. Consistent with this, our Mission Statement is to foster a sound economic and financial environment which promotes the development of stakeholders and encourages a culture of excellence and leadership.