Bank of New Melanesia
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| Established | 24 July 2022 |
|---|---|
| Ownership | Government Owned |
| Chief Executive | Vacant |
| Central bank of | Republic of New Melanesia |
| Currency | Rura |
The Bank of New Melanesia is the central bank of the Republic of New Melanesia. The bank is government owned and works in the interests of the state.
Role
Alongside the treasury the bank has some specific duties:
- Designing the Currency
- Printing and Regulating Currency
- Helping Prevent Fraud
- Working with the Treasury
Governance
The bank is Government Owned but is directly managed by the Chief Executive who also chairs the Board of Directors and appoints other executive officers.
The chief executive is appointed by the Chancellor of the Exchequer who is the minister responsible for the treasury.