The Central Bank of Trinidad & Tobago was established through an Act of Parliament on 12 December 1964 after the country gained independence on August 31, 1962. Ever since its establishment the bank has been instrumental in the development of the financial system of Trinidad and Tobago.
The mission of the bank is “The Bank shall have as its purpose the promotion of such monetary, credit and exchange policies as would foster monetary and financial stability and public confidence and be favorable to the economy of Trinidad & Tobago.” The bank continues to promote economic growth and advancement through sound and effective monetary management.
The Act entrusted the bank with a number of responsibilities that include
- To issue and circulate the currency
- To act as the banker to the government
- To act as banker to the commercial banks of the country
- To promote and maintain monetary stability in the country
- To protect the external value of the Trinidad & Tobago dollar
- To hold and manage the country’s foreign exchange and other reserves
- To initiate steps to preserve the financial stability of the country’s economy
- To collect data and conduct economic intelligence and research
The administration of bank is in the hands of a Board of Directors. The Governor who is also the chairman of the board heads the Board. Besides, there are two Deputy Governors and six other directors.
Further, to facilitate the bank to operate smoothly the Central Bank of Trinidad & Tobago has been divided into sixteen departments.
The Address and Contact details of the bank is as follows:
Central Bank of Trinidad and Tobago
Address: P.O. Box 1250 Port of Spain TRINIDAD AND TOBAGO Phone No.: ++1-809-625 48 35 Fax: ++1-809-627 46 96