The Government of Barbados set up the Central Bank of Barbados through an Act of Parliament in the year 1972. Before that the East Caribbean Currency Authority was taking care of the monetary issues in the country
Since the year 1972, the bank has been taking care of the monetary and financial policies of the country to achieve higher economic development. Important objectives of the Central Bank of Barbados are as follows:
- Maintaining monetary and financial stability
- Creating a better financial environment
- Developing money and capital market
- Channelize bank credits to the productive sectors
- Control credit and exchange rates.
The country's economy has made a tremendous success in the recent years by maintaining both economic and fiscal stability. It is a success story of the bank.
The Address and Contact details of the bank is as follows:
Central Bank of Barbados
Phone No.: ++1-246-436 68 70
Fax: ++1-246-427 95 59