The Central Bank of Samoa ( sm, Faletupe Tutotonu o Samoa), situated in the capital
Apia beside the main government buildings, issues the Samoan currency, the
Samoan tālā
The tālā is the currency of Samoa. It is divided into 100 ''sene''. The terms ''tālā'' and ''sene'' are the equivalents or transliteration of the English words ''dollar'' and '' cent'', in the Samoan language. Its symbol is $, or ''WS$'' to d ...
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 banks. 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 and is a member of the
Alliance for Financial Inclusion
The Alliance for Financial Inclusion, or AFI, is a policy leadership alliance owned and led by member central banks and financial regulatory institutions with the common objective of advancing financial inclusion at the country, regional and inte ...
. The institution made a
Maya Declaration Commitment in 2013 with an intent to build an inclusive financial system in
Samoa 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, near the government buildings and by a historic clock tower.
Governors
*
William E. Davies
William Edward Davies (December 24, 1917 – June 27, 1990) was a notable American geologist, speleologist and official of the U.S. Geological Survey (USGS). He produced pioneering surveys of West Virginia and Caves of Maryland, Maryland caves.
B ...
, Australian, January 1984 - February 1987
*
John A. Howard
The Rockford Institute was an American conservative think-tank associated with paleoconservatism, based in Rockford, Illinois. It ran the John Randolph Club and published the magazine ''Chronicles''. In early 2019, the Rockford Institute merged ...
, Briton, February 1987 - April 1989
*
Leasi Papali'i Tommy Scanlan, April 1989 - August 2011
*
Atalina Ainuu-Enari, August 2011 -
See also
*
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
Banks of Samoa
Economy of Samoa
1984 establishments in Samoa
Banks established in 1984
Government-owned companies of Samoa
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