Regulatory Alerts2024-08-14
Law Creating the Bank of the Republic of Haiti
President Jean-Claude Duvalier promulgated a law on September 11, 1979, replacing the National Bank of the Republic of Haiti (BNRH) with two autonomous institutions: the Bank of the Republic of Haiti (BRH) as the central bank and the National Credit Bank (BNC) as the commercial bank. The legislation mandates that these new entities operate under their own organic laws and authorizes their administrative councils to manage a six-month transitional period to ensure continuity in banking operations. This reform aims to adapt Haiti's banking structures to new economic and social development requirements by establishing a dedicated central bank to manage currency and credit conditions.
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