National Bank of the Republic of Abkhazia
The National Bank of the Republic of Abkhazia ( Abkhazian Аҧсны Аҳәынҭқарра Амилаҭтә Банк ; Russian Национальный банк Республики Абхазия ) is the central bank of the Republic of Abkhazia, which is recognized internationally only by a few countries . It has existed since 1995 and is based in Sukhum , the country's capital.
History and structure
The National Bank of Abkhazia was founded on February 11, 1995. After the collapse of the Soviet Union , Abkhazia broke away from Georgia , which claimed the region, and achieved de facto independence after a conflict that lasted until 1993 . Then Abkhazia began building its own state structures, so that in 1995 its own central bank was founded.
The Abkhazian National Bank emerged from the former Soviet state bank Gosbank , whose branches and structures located in Abkhazia it took over. For a long time, however, the National Bank did not issue its own currency, but instead introduced the Russian ruble in Abkhazia .
After the independence of Abkhazia was recognized by some states from 2008, the Abkhazian apsar was introduced as its own currency. To date, however, this is only in very small quantities and the exchange rate is tied to the ruble. The ruble is therefore still the common currency in Abkhazia. The Abkhazian National Bank therefore works closely with Bank Rossii , the central bank of Russia.
The Abkhazian National Bank is headed by a board of seven people, the chairman of the board is appointed by the Abkhaz People's Assembly . Illarion Argun has held this post since 2005 .
Web links
- www.nb-ra.org - Official website (Russian, English, Abkhazian)