What are the Functions of the Bank?

To carry out successfully its policy and to fulfil the objectives, the Central Bank performs the following functions:

  • Determine and implement monetary policy
  • Implement policies for the management of the exchange rate
  • Hold and manage all the official international reserves of Barbados
  • Issue and manage currency
  • Act as a lender of last resort to financial institutions
  • Collect and produce economic and financial statistics
  • Regulate and promote a safe, sound and efficient payment and clearing system
  • Adopt and implement macro-prudential policy measures to promote financial stability
  • Act as a prudential regulator in accordance with the Financial Institutions Act, Cap. 324a
  • Act as a fiscal agent and financial advisor to the Government
  • Carry out any ancillary activities which are related to the exercise of its functions under this act

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