The Central Bank of Samoa ( sm, Faletupe Tutotonu o Samoa), situated in the capital
Apia
Apia () is the capital and largest city of Samoa, as well as the nation's only city. It is located on the central north coast of Upolu, Samoa's second-largest island. Apia falls within the political district (''itūmālō'') of Tuamasaga.
...
beside the main government buildings, issues the Samoan currency, the
Samoan tālā as well as regulates and manages the exchange rate with foreign currencies. In its role as the central bank for the government and the country, it is also responsible for the registration and supervision of
commercial bank
A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit.
It can also refer to a bank, or a division of a large bank, which deals with co ...
s. The current governor since 2011 has been Maiava Atalina Emma Ainuu-Enari.
Legally, the bank follows a mandate pursuant to the Central Bank of Samoa Act 1984, the Financial Institutions Act 1996 and the Money Laundering Prevention Act 2000. The Central Bank of Samoa was preceded by Monetary Board established in 1975.
The bank is engaged in developing policies to promote
financial inclusion
Financial inclusion is defined as the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and service ...
and is a member of the
Alliance for Financial Inclusion. The institution made a
Maya Declaration Commitment in 2013 with an intent to build an inclusive financial system in
Samoa
Samoa, officially the Independent State of Samoa; sm, Sāmoa, and until 1997 known as Western Samoa, is a Polynesian island country consisting of two main islands ( Savai'i and Upolu); two smaller, inhabited islands ( Manono and Apolima); ...
that serves all members of society.
Its official name in the Samoan language, ''Faletupe Tutotonu o Samoa'', means 'Central Bank (lit. Central Money House) of Samoa'.
Head office
The head office for the bank is situated in the capital
Apia
Apia () is the capital and largest city of Samoa, as well as the nation's only city. It is located on the central north coast of Upolu, Samoa's second-largest island. Apia falls within the political district (''itūmālō'') of Tuamasaga.
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, near the government buildings and by a historic clock tower.
Governors
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Bill Davies, Australian, 1984-1987
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John A. Howard, Briton, 1987-1989
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Leasi Papali'i Tommy Scanlan
Leasi Papali'i Tommy Scanlan is a Samoa, Samoan diplomat who, since April 2012, has served as high commissioner of the Independent State of Samoa to New Zealand, in which capacity he is also dean of the diplomatic corps. He was previously governo ...
, 1989-2011
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Atalina Ainuu-Enari, 2011-
See also
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Economy of Samoa
The economy of Samoa is dependent on agricultural exports, development aid and private financing from overseas. The country is vulnerable to devastating storms. Agriculture employs two-thirds of the labor force, and furnishes 9% of exports, featu ...
References
External links
Official site: Central Bank of Samoa
Samoa
Samoa, officially the Independent State of Samoa; sm, Sāmoa, and until 1997 known as Western Samoa, is a Polynesian island country consisting of two main islands ( Savai'i and Upolu); two smaller, inhabited islands ( Manono and Apolima); ...
Banks of Samoa
Economy of Samoa
1984 establishments in Samoa
Banks established in 1984
Government-owned companies of Samoa
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