Regulatory Alerts2020-12-14
Central Bank of Barbados Act, 2020
The Parliament of Barbados enacted this Act to revise the Central Bank’s governance framework, strengthening its independence while maintaining accountability and ensuring compliance with international accounting standards. The legislation establishes the Bank’s primary objective of maintaining currency value and secondary goal of promoting financial stability, while defining its powers over monetary policy, foreign exchange, and prudential regulation. It further details the Bank's capital structure, administrative bodies including the Board and Executive Committee, and its specific roles as the Government's banker and fiscal agent.
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