The National Bank of Rwanda ( rw, Banki Nkuru Y'u Rwanda, french: Banque Nationale du Rwanda) is the

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central b ...

of Rwanda. The bank was founded in 1964. The current governor of the bank is John Rwangombwa.

Location

It is quartered at the National Bank of Rwanda Building, on KN6 Avenue in the central business district of Kigali, the capital and largest city in Rwanda. The coordinates of the bank's headquarters are 01°56'56.0"S, 30°03'49.0"E (Latitude:-1.948889; Longitude:30.063611).

Overview

The Bank is active in promoting

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 ...

policy and is a leading member of th
Alliance for Financial Inclusion
It is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration during the 2011

Global Policy Forum The Global Policy Forum (GPF) is an international non-governmental organization founded in December 1993 and based in New York and Bonn (Global Policy Forum Europe). � The aim of the Global Policy Forum is to critically accompany and analyze devel ...

held in Mexico.

Governors

Governors of the National Bank of Rwanda * Johan A. Brandon: 1964-1965 * Masaya Hattori: 1965-1971 * Jean Berchmans Birara: 1971-1985 * Augustin Ruzindana: 1985-1990 * Denis Ntirugirimbabazi: 1991-1994 * Gérard Niyitegeka: 1994-1995 * François Mutemberezi: 1996-2002 * François Kanimba: 2002-2011 *

Claver Gatete Claver Gatete (born 23 May 1962) is a Rwandan politician and ambassador, who currently serves as Rwanda's Permanent Representative to the United Nations as of March 28, 2022. He previously served as the Minister of Infrastructure in the Rwandan ...

: 2011-2013 * John Rwangombwa: After 2013

History

The central bank, whose name is abbreviated to "BNR", evolved step by step: * Royal Decree of 27th July 1887 establishes the

franc The franc is any of various units of currency. One franc is typically divided into 100 centimes. The name is said to derive from the Latin inscription ''francorum rex'' (King of the Franks) used on early French coins and until the 18th centu ...

as the money of account for the Independent State of Congo, a.k.a. Congo Free State, and Rwanda is included as well. * Heligoland Agreement of 1890 puts Rwanda and Burundi within the German sphere of influence in Africa; the

German East African rupie The Rupie was the currency of German East Africa between 1890 and 1916, continuing to circulate in the Tanganyika Territory until 1920. History The Indian rupee was the dominant currency used along the East African coast during the second half ...

is the official

currency A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general ...

; circulation of the

French franc The franc (, ; sign: F or Fr), also commonly distinguished as the (FF), was a currency of France. Between 1360 and 1641, it was the name of coins worth 1 livre tournois and it remained in common parlance as a term for this amount of money. It w ...

continues nonetheless. *As a result of

Belgium Belgium, ; french: Belgique ; german: Belgien officially the Kingdom of Belgium, is a country in Northwestern Europe. The country is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeast, France to th ...

's actions, the

Belgian Congo The Belgian Congo (french: Congo belge, ; nl, Belgisch-Congo) was a Belgian colony in Central Africa from 1908 until independence in 1960. The former colony adopted its present name, the Democratic Republic of the Congo (DRC), in 1964. Colo ...

becomes a member of the

Latin Monetary Union The Latin Monetary Union (LMU) was a 19th-century system that unified several European currencies into a single currency that could be used in all member states when most national currencies were still made out of gold and silver. It was establ ...

in 1908. * Bank of Belgian Congo established in 1909. *Bank of Belgian Congo issues its first banknotes in 1912. *Rwanda and Burundi attached to the Congo Franc Zone following

Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...

's defeat in

World War I World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fightin ...

; 1927 * Colony of Belgian Congo and the Bank of Belgian Congo create a new relationship; 1927–1952 **

World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing ...

era: temporary involvement of the Bank of England; Congo franc is listed in London. *

Belgian Congo and Ruanda-Urundi Central Bank Belgian may refer to: * Something of, or related to, Belgium * Belgians, people from Belgium or of Belgian descent * Languages of Belgium, languages spoken in Belgium, such as Dutch, French, and German *Ancient Belgian language, an extinct language ...

(BCCBRU) 1952 - 1960 * Banque d' Emission du Rwanda et du Burundi (BERB) / (Issuing Bank of Rwanda and Burundi) - 1960 - 1964 * Royal Bank of Burundi (BRB) and the Banque Nationale du Rwanda (BNR) open in 1964. *( Banque de la République du Burundi (BRB) opens in 1966.)

References

External links