The National Bank of Rwanda located on Paul VI Avenue is the central bank of Rwanda that was founded in 1964.The National Bank of Rwanda has the mandate to supervise the financial sector.
Objectives of the bank
- To maintain financial system stability with a view to encouraging and promoting the development of the productive resources of Rwanda.
- To promote the access to finance whilst strengthening a stable and sound financial system through licensing of banks, insurers, pensions schemes, microfinance institutions, forex bureaus, and credit reference bureaus.
Missions of the bank
- to ensure and maintain price stability;
- to enhance and maintain a stable and competitive financial system without any exclusion;
- to support Government’s general economic policies, without prejudice to the two missions
Management of National Bank of Rwanda
The Bank is headed by the Governor who is appointed and dismissed by a Presidential Order and the Vice Governor who is appointed and dismissed by a Prime Minister’s Order
Activities of National Bank of Rwanda
For the Bank to achieve its missions, it shall perform the following duties:
- To define and implement the monetary policy
- To organize, supervise and regulate the Foreign exchange market
- To supervise and regulate the activities of financial institutions notably banks, micro finance institutions, insurance companies, social security institutions, collective placement companies and pension funds institutions
- To supervise and regulate payment systems
- To mint and manage money
- To hold and manage official foreign exchange reserves
- To act as State Cashier
- To carry out any other task that this law or any another law may assign to it