WHAT WE DO
In carrying out its objective under the Central Bank Act, the Bank’s main responsibilities are as follows:
Monetary Policy
The Bank shall determine and implement Monetary policy
Foreign Exchange Matters and International Reserves
The Bank shall:
- contribute to determining the exchange rate regime under section 16 of the CBSI Act 2012;
- determine and implement exchange rate policy;
- regulate the international exchange of money as further specified in this Act or any other law;
- hold and manage the international reserves;
Currency and Legal tender
The Bank shall issue, regulate and manage the currency of Solomon Islands;
Statistics and Information
The Bank shall:
- collect and produce statistics;
- inform the Parliament, Government and the public about its policies, functions and operations as further specified in this Act;
Payments System
The Bank shall promote a safe, sound and efficient payment system;
Supervision
The Bank shall:
- regulate, licence, register and supervise financial institutions as further specified in this Act or any other law;
- ensure that financial institutions establish within their organization consumer complaints units;
Relationship with Parliament, Government and State
The Bank shall:
- to act as banker, financial adviser and fiscal agent to the Government and to any other public bodies and organisations of Solomon Islands;
- to cooperate with and participate in international bodies and organisations concerning matters that are within its fields of competence; and
Financial Inclusion
The Bank shall promote financial inclusion and related activities; and
Relationship with Other Laws
The Bank shall carry out any ancillary activities incidental to carrying out its functions under this Act or any other law.