Banco Central de Cuba
The Banco Central de Cuba (BCC) is the central bank of Cuba . It was created on May 28, 1997 by the Council of State by Decree No. 172 to divide up the functions previously exercised by its predecessor, the Banco Nacional de Cuba . The Banco Nacional de Cuba was founded in 1948 with funds from the state and the Cuban financial sector. After restructuring in 1961, 1966, 1975 and 1984, it became the exclusive property of the state. With the establishment of the Banco Central de Cuba in 1997 as a state bank with currency and foreign exchange supervision, the Banco Nacional de Cuba did not disappear, but ceded its central bank function to the new authority and retained functions of a commercial bank. From its establishment until 2009, the President of the Cuban Central Bank was Francisco Soberón Valdés , a member of the Cuban Council of Ministers and until then President of the Banco Nacional de Cuba.
Functions
The tasks of the Banco Central de Cuba include:
- Issue of the Cuban peso and convertible peso
- Securing currency stability
- Manage the country's gold and currency reserves
- Regulation of payment transactions
- Function as government banker
Individual evidence
- ↑ Cuba Foreign Exchange Reserves accessed on January 10, 2020 (English)