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National Reserve Bank of Tonga

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National Reserve Bank of Tonga
HeadquartersNukuʻalofa
EstablishedJuly 1, 1989 (1989-July-01)
Ownership100% state ownership[1]
GovernorTatafu Moeaki
Central bank ofTonga
CurrencyTongan pa'anga
TOP (ISO 4217)
Reserves140 million USD[1]
Websitewww.reservebank.to

The National Reserve Bank of Tonga (NRBT; Tongan: Pangikē Pule Fakafonua ʻo Tongá) is the central bank of Tonga. The Reserve Bank is responsible for regulating the issue and supply of domestic and international currency, as well as promoting monetary stability and economic development. It also advises the Ministry of Finance on banking and monetary matters, acts as the principal banker and fiscal agent of the Government of Tonga, and is responsible for the licensing and supervision of financial institutions.[2] The current Governor is Ngongo Kioa.[3]

NRBT is active in promoting financial inclusion and is a member of the Alliance for Financial Inclusion.[4]

NRBT Building hosts the Embassy of Japan.[5]

NRBT Is the current tallest building in Tonga, standing at 18m (59 ft).[6]

History

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National Reserve Bank of Tonga was established on 1 July 1989.[7] It was preceded as monetary authority and holder of foreign reserves by Bank of Tonga, which was established in 1974.[8]

Governors

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Sione Ngongo Kioa

Governor of the bank is appointed for renewable five-year terms.[9][10]

  1. Alan E. Gee, July 1989 - July 1991
  2. Siosiua 'Utoikamanu, July 1991 – May 2003
  3. Siosi Cocker Mafi, May 2003 – July 2013
  4. Sione Ngongo Kioa, August 2013 — October 2022
  5. Tatafu Moeaki, December 2022 — present[11]

See also

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References

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  1. ^ a b Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. ^ "Tasks and functions of the NRBT". Archived from the original on 2007-07-08. Retrieved 2007-08-05.
  3. ^ "Tonga's Reserve Bank explains licence revoke". 2016-08-01. Retrieved 2016-09-22.
  4. ^ "AFI members". AFI Global. 2011-10-10. Archived from the original on 2012-02-20. Retrieved 2012-02-23.
  5. ^ "General Information". Ministry of Foreign Affairs of Japan.
  6. ^ "National Reserve Bank of Tonga". Emporis.com. Archived from the original on January 16, 2018.{{cite web}}: CS1 maint: unfit URL (link)
  7. ^ "About the National Reserve Bank of Tonga". Archived from the original on 1 November 2012. Retrieved 3 September 2012.
  8. ^ "Appraisal of the third multiproject and Tonga Development Bank project in Tonga 1986".
  9. ^ "National Reserve Bank of Tonga - About". 31 August 2013. Archived from the original on 2013-08-31.
  10. ^ "Governor Kioa's Welcoming Speech on the 30th Anniversary of the NRBT - National Reserve Bank of Tonga". www.reservebank.to.
  11. ^ "Tatafu Moeaki, new Governor of National Reserve Bank of Tonga". Matangi Tonga. 2 January 2023. Retrieved 3 January 2023.
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