The Central Bank of West African States (BCEAO) was born April 4, 1959: specifically, it is the result of the transformation of the Institute of Emission of French West Africa and Togo. It is headquartered in Dakar, Senegal. Three years after its creation, in 1962, the BCEAO signed the treaty symbolized the creation of the West African Monetary Union (WAMU). This is an area recognizing the use of the same coin: the Franc of the African Financial Community.
This bank includes eight states: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. Each country has a main office and one or more auxiliary agents. The main role of the BCEAO is to define and implement monetary policy in the area concerned. The bank is entirely responsible for the balance of the financial and banking system of the WAMU. Several other missions entrusted to the BCEAO such as setting interest rates or the implementation of exchange rate policy in the area (knowing that the rules of this policy are defined by the Council of Ministers). Foreign exchange reserves are also under the control of the BCEAO.
Bank of Albania (Banka e Shqipërisë)
Three steps are necessary to lead to the founding of the Bank of Albania. A first attempt took place between 1925 and 1944 with the creation of the National Bank of Albania. This is particularly during this period that was issued the first Albanian currency. This body is then replaced with the Public Bank of Albania until 1992. That year marks the birth of the current Bank of Albania.
One of the main functions of this bank is to maintain price stability in the country and to keep inflation under control. It should also support the domestic financial market, payment system, the exchange rate regime and improving monetary conditions and loan terms.
The Bank of Albania is responsible for the currency of the country: its role is to ensure balance of currency in circulation while improving economic growth. This structure must also manage on behalf of the Government of the Republic of Albania, one of its main customers. Regularly, national or international financial transactions are made and involve billions of Albanian lek. Finally, the Bank of Albania supervises all banks in the country and ensures that all rules are applied.
German Federal Bank (Deutsche Bundesbank)
The Bank of Germany has replaced the Bank deutscher Länder, an organization created in 1948 that was responsible for the new national currency, the Deutsche Mark. The year 1957 thus marks the founding of the Bank of Germany whose headquarters are in Frankfurt am Main. It actively participates in the Eurosystem.
The first task of the Bank of Germany is to ensure price stability and financial system. For this, many analyzes are performed and goals are set by the bank in five areas: monetary policy, financial and monetary system, banking supervision, cashless payments and cash management.
Price stability in the euro area is one of the main objectives of this organization. This especially enables growth and encouraging employment. Currency in circulation and the level of interest rates also depend on the Bank of Germany. Furthermore, the bank is working with the German authority responsible for the supervision of financial services (BAFI): both agencies control more than 2,000 credit institutions in the country and are responsible for checking their solvency system to liquidity and risk management.
The Bank of England was created in the seventeenth century, specifically in 1694. Since its founding, and for more than two centuries, this bank was a private company. It is nicknamed The old lady of Threadneedle Street (The Old Lady of Threadneedle Street) by the British because of its location in the city of London. Its role has evolved over the history as well as its functions: managing state accounts, grant loans, issue tickets, etc.
Originally named The Governor and Company of the Bank of England, the bank experienced a first turn in 1946 with the nationalization of its capital. It is then in 1998 that the Bank of England became an independent public body. The first mission of this institution is to ensure monetary and financial stability. Regulations concerning the exchange is also in the hands of the Bank of England, as well as the distribution of currency (British Pound Sterling) in England and Wales. This organization also acts as lender of last resort and must be able to unlock, if necessary, money funds.
Finally, gold reserves on behalf of Great Britain and several other countries are stored in the Bank of England.
Saudi Arabian Monetary Agency (????? ????? ?????? ???????)
Not since 1928 to find the first Saudi law concerning money. It is then in 1952 that was created Monetary Agency of Saudi Arabia during the reign of Abdelaziz Al Saud ben Abderrahmane. Since its inception, many royal decrees were issued to formalize decisions taken on this monetary agency, whether to strengthen the autonomy of the body or to appoint new governors or deputy governors.
Monetary Agency of Saudi Arabia has invested several missions. First, it is responsible for issuing the national currency (Saudi Riyal) and the stabilization of its internal and external value. Foreign exchange reserves of the kingdom are the sole responsibility of the organization. In addition, the Monetary Agency of Saudi Arabia plays a key role in the control and supervision of banks, insurance companies, finance companies, credit companies, etc. The monetary policy of the kingdom is managed by the Monetary Agency of Saudi Arabia: it is to ensure the stability of prices and exchange rates. Encourage the growth of the financial system is also crucial to strengthen it.