The Bank for International Settlements (BIS) is an international financial institution which is owned by member central banks. Its primary goal is to foster international monetary and financial cooperation while serving as a bank for central banks. With its establishment in 1929, its initial purpose was to oversee the settlement of World War I war reparations.
Currency substitution is the use of a foreign currency in parallel to or instead of a domestic currency.
The Bank of Slovenia is the Slovenian member of the Eurosystem and has been the monetary authority for Slovenia from 1991 to 2006, issuing the Slovenian tolar. Since 2014, it has also been Slovenia's national competent authority within European Banking Supervision.
The Croatian National Bank, known until 1997 as the National Bank of Croatia, is the Croatian member of the Eurosystem and has been the monetary authority for Croatia from 1991 to 2022, issuing the Croatian dinar until 1994 and subsequently the Croatian kuna until Croatian adoption of the euro on 1 January 2023. It has also been Croatia's national competent authority within European Banking Supervision since 2020. It was initially established in 1972 under the decentralization of the National Bank of Yugoslavia, and became a fully-fledged central bank in late 1991 with the independence of Croatia.
The Czech National Bank, is the central bank and financial market supervisor in the Czech Republic, headquartered in Prague. It is a member of the European System of Central Banks. It was established on 1 January 1993 from the division of the State Bank of Czechoslovakia as part of the process of dissolution of Czechoslovakia, together with the National Bank of Slovakia.
A currency crisis is a type of financial crisis, and is often associated with a real economic crisis. A currency crisis raises the probability of a banking crisis or a default crisis. During a currency crisis the value of foreign denominated debt will rise drastically relative to the declining value of the home currency. Generally doubt exists as to whether a country's central bank has sufficient foreign exchange reserves to maintain the country's fixed exchange rate, if it has any.
The Central Bank of Iran (CBI), also known as Bank Markazi, officially the Central Bank of the Islamic Republic of Iran is the central bank of Iran.
The Central Bank of Azerbaijan is the central bank of Azerbaijan Republic. The headquarters of the bank is located in the capital city Baku.
The Bank of Albania is the central bank of Albania. Its main headquarters are in Tirana, and the bank also has five other branches located in Shkodër, Elbasan, Gjirokastër, Korçë, and Lushnjë, while its Research and Training Center is located in Berat.
The Central Bank of Somalia (CBS) is the monetary authority of Somalia. Somalia has struggled to reestablish a functioning state since the collapse of an authoritarian regime in 1991. Somalia has been cited as a real-world example of an anarchist stateless society and a country with no formal legal system. The Transitional Federal Government, formed in 2004, was recognized as the central government of Somalia. Among other duties, it is in charge of ensuring financial stability, maintaining the internal and external value of the local currency, and promoting credit and exchange conditions that facilitate the balanced growth of the national economy. Within the scope of its powers, it also contributes to the financial and economic policies of the State.
The Central Bank of Bosnia and Herzegovina is the central bank of Bosnia and Herzegovina, located in the capital city, Sarajevo.
Montenegro is a country in South-Eastern Europe, which is neither a member of the European Union (EU) nor the Eurozone; it does not have a formal monetary agreement with the EU either. However, it is one of the two territories that has unilaterally adopted the euro in 2002 as its de facto domestic currency. This means that even though the euro is not a legal tender there, it is treated as such by the government and the population.
The Central Bank of Ecuador is the central bank of the country, and an institution of the Executive Function, which has institutional, administrative, financial, and technical autonomy. It is in charge of executing the monetary policy established by the Monetary Policy and Regulation Board of Ecuador, which has been the institution's highest governing body since October 2021.
Accession of Montenegro to the European Union is on the agenda for future enlargement of the EU.
Prva banka Crne Gore AD is a Montenegrin bank. Formerly known as Nikšićka banka AD, the bank was renamed in March 2007. Prva banka CG assumes continuity from a bank, existing under various forms of ownership, that was founded in 1901.
Kosovo adopted the euro as its de facto legal tender in 2002 despite the territory not being a member of the Eurozone or the European Union. This succeeded its use of German marks from 1999.
The National Bank of Serbia is the central bank of Serbia.
The Central Bank of Kosovo is the central bank of Kosovo. It was founded in June 2008, the same year Kosovo declared its independence from Serbia, with the approval of Law No. 03/L-074 on the Central Bank of the Republic of Kosovo by the Kosovo Assembly. Before being established as the Central Bank of Kosovo, it operated as the Central Banking Authority of Kosovo. The official currency in Kosovo is the euro, which has been adopted unilaterally in 2002; however, Kosovo is not a member of the Eurozone. The headquarters of the CBK are located in the capital of Kosovo, Pristina.
The Nepal Rastra Bank was established April 26, 1956 A.D. under the Nepal Rastra Bank Act, 1955, to discharge the central banking responsibilities including guiding the development of the embryonic domestic financial sector. As of now, the NRB is functioning under the new Nepal Rastra Bank Act, 2002. The functions of NRB are to formulate required monetary and foreign exchange policies so as to maintain the stability in market prices, to issue currency notes, to regulate and supervise the banking and financial sector, to develop efficient payment and banking systems among others. The NRB is also the economic advisor to the government of Nepal. As the central bank of Nepal, it is the monetary, supervisory and regulatory body of all the commercial banks. development banks, finance companies and micro-finances institutions.
Irena P. Radović is a Montenegrin economist, diplomat and civil servant. She has served as Montenegro's ambassador to several countries, lectured in international economics at several universities, was Deputy Minister of Foreign Affairs in 2007, and represented Montenegro in various international political and cultural organizations. From March 2017 to July 2018 she held the position of Vice-Governor of the Central Bank of Montenegro. She was appointed member of the Board of the Investment and Development Fund (IDF) of Montenegro in December 2020 and elected executive director in January 2021 for a term of four years. In her current capacity, she is a member of the national Competition Council and a member of the Board of the Chamber of Commerce of Montenegro.
