Bank of the Republic of Burundi
Central Bank of Burundi
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The Bank of the Republic of Burundi (Kirundi: Ibanki ya Republika y'uBurundi, French: Banque de la République du Burundi; BRB) is the central bank of Burundi. The bank was established in 1964 as the Banque du Royaume du Burundi and renamed to its current name in 1966 after the fall of the monarchy and the introduction of the Republic.
BP 705
Bujumbura
1966 (renamed to current name)
| |
 BRB offices in Rumonge | |
| Central bank of | Burundi |
|---|---|
| Headquarters | 1, Avenue du Gouvernement BP 705 Bujumbura |
| Established | 19 May 1964 (under the name Banque du Royaume du Burundi) 1966 (renamed to current name) |
| Ownership | 100% state ownership[1] |
| Governor | Édouard Normand Bigendako |
| Currency | Burundian franc BIF (ISO 4217) |
| Reserves | 80 million USD[1] |
| Preceded by | Banque d'Émission du Rwanda et du Burundi |
| Website | brb.bi |
Its headquarters are in Bujumbura and it holuhhds offices in Gitega and Rumonge.
The Bank is active in promoting financial inclusion policy and is a member of the Alliance for Financial Inclusion. It is also one of the original 17 regulatory institutions to make specific national commitments to financial inclusion under the Maya Declaration[2] during the 2011 Global Policy Forum held in Mexico.
In 2019, the BRB started the construction of its new headquarters in Bujumbura, not too far from its current offices. However due to some technical issues, the project has experienced some delays.[3]
The Current governor is Édouard Normand Bigendako.[4]
History
The central bank evolved step by step:
- Royal Decree of 27 July 1887 establishes the franc as the money of account for the Congo Free State, and Burundi is included as well.
- Heligoland Agreement of 1890 puts Rwanda and Burundi within the German sphere of influence in Africa; German East African rupie is the official currency; circulation of the French franc continues nonetheless.
- As a result of Belgium's actions, the Belgian Congo becomes a member of the Latin Monetary Union in 1908.
- Banque du Congo Belge established in 1909.
- Banque du Congo Belge issues its first banknotes in 1912.
- Rwanda and Burundi attached to the Congolese Franc Zone following Germany's defeat in World War I; 1927
- Colony of Belgian Congo and the Banque du Congo Belge create a new relationship; 1927–1952
- World War II era: temporary involvement of the Bank of England; Congo franc is listed in London.
- Banque Centrale du Congo Belge et du Ruanda-Urundi (BCCBRU) 1952–1960
- Banque d'Émission du Rwanda et du Burundi (BERB) / (Issuing Bank of Rwanda and Burundi) – 1960–1964
- Banque du Royaume du Burundi (BRB) (Royal Bank of Burundi) and the Banque Nationale du Rwanda (BNR) open in 1964.
- Banque de la République du Burundi (BRB) opens in 1966.
Governors
| Name of the Governor | Term of office | ||
|---|---|---|---|
| Took office | Left office | ||
| Bonaventure Kidwingira | 1967 | 1977 | |
| Elisee Ntahonikora | 1977 | 1980 | |
| Aloys Ntahonkiriye | 1980 | 1986 | |
| Isaac Budabuda | 1987 | 1992[5] | |
| Mathias Sinamenye | 1992 | 1998 | |
| Grégoire Banyiyezako | 1998 | 2003 | |
| Salvator Toyi | 2003 | 2006 | |
| Gabriel Ntisezerana | 2006 | 2007 | |
| Isaac Bizimana | 2007 | 2007 | |
| Gaspard Sindayigaya | 2007 | 2012 | |
| Jean Ciza | 2012 | 2022 | |
| Dieudonné Murengerantwari | 2022 | 2023[6] | |
| Édouard Normand Bigendako | 2023 | Present[6][7] | |
