The Bank of Guyana is the central bank of Guyana, referred to as the central bank or central bank. It was established in 1965, before the independence of Guyana in 1966. The current governor of the bank is Dr. Gobind Ganga.

Bank logo

The Bank of Guyana logo consists of four sets of patterns, namely: rice (top left), timber (top right), shipbuilding (bottom left) and minerals (bottom right).

History

The Bank of Guyana was established on November 23, 1965. The actual operation of the bank began as early as October 16, 1965, seven months before the country's independence.

The early establishment of the Bank of Guyana was facilitated by an agreement of the British government, which stipulated that the British Caribbean Currency Board (BCCB) would cease issuing currency after 1965 and be dissolved in mid-1967.

The Bank of Guyana is an independent institution headquartered in Georgetown. Its main responsibilities are as follows: Under the guidance of the government's economic policy, the Central Bank shall play a leading role in all statutes with the aim of promoting monetary stability and improving the credit exchange environment, in order to contribute to the development of the Guyana economy.

In addition to the specific administrative and management matters of the Central Bank, the House of Banks also stipulates that the Central Bank must:

• Have the sole right to issue and exchange notes and coins
• Bank acting as a commercial bank
• Act as the government's fiscal agent and bank trustee
• Manage payment agreements entered into by the government

The first Governor of the Bank of Guyana, Dr. Horst Bockerman, was a banker at the Deutsche Bundesbank. He was involved in the establishment of the Central Bank of Trinidad and Tobago. Two years later, Mr. William Andrade was promoted to the highest office and became the bank's first Guyanese Governor.

The Bank of Guyana began issuing new banknotes on November 15, 1965 to replace the BCCB banknotes that would cease to be issued on December 31, 1965. Coins were not issued until mid-1967.

Works of art