National Bank of the Republic of Abkhazia

National Bank of the Republic of Abkhazia
Аҧсны Аҳәынҭқарра Амилаҭтә Банк (Abkhaz)
Национальный банк Республики Абхазия(Russian)

Official logo

Front view of the main office on Leon Street

Headquarters

384900, Leona str. 14, Sukhumi

Established

February 28, 1991

Chairman

Vacant

Central bank of

Abkhazia^[1]

Currency

Russian ruble, Abkhazian Apsar
RUB (ISO 4217)

Website

http://www.nb-ra.org

The National Bank of the Republic of Abkhazia^[1] (Abkhaz: Аҧсны Аҳәынҭқарра Амилаҭтә Банк, Russian: Национальный банк Республики Абхазия), also known by the short form of Bank of Abkhazia (Russian: Банк Абхазии) is the central bank of the disputed region and partly recognized state of Abkhazia on the eastern coast of the Black Sea. It was established on February 28, 1991 since the adoption of the laws "On the National Bank of the Abkhaz SSR" and "On Banks and Banking of the Abkhaz SSR" passed by the Supreme Soviet of the Abkhaz SSR on February 28, 1991.

The Bank's headquarters are located in a constructivist building on Leon Street in Sukhumi, Abkhazia's capital.

Primary actions of the Bank 1
Declared functions of the Bank 2
Chairmen of the National Bank 3
See also 4
References 5
External links 6

Primary actions of the Bank

Due to the use of the Russian rouble in Abkhazia, the National Bank of Abkhazia exercises little control over the money supply in Abkhazia’s economy and has almost no influence on the value of the Russian currency. Its actions are primarily focused on registering commercial banks and making wholesale loans to them.^[2]

Declared functions of the Bank

To develop and conduct, in cooperation with the Government of the Republic of Abkhazia, the state's monetary policy.
To implement emissions of cash and arrange for their treatment.
As creditor of last resort for credit institutions and organize a system of refinancing.
To establish rules of settlement in the Republic of Abkhazia.
To establish rules for banking, accounting and reporting for the banking system.
To implement state registration of credit organisations.
To grant and revoke licenses of credit institutions and organisations involved in their audit.
To supervise and monitor the activities of credit organisations.
To register and issue securities to lending organisations, in accordance with the law.
To exercise, alone or at the invitation of the Government of the Republic of Abkhazia, varied banking operations needed to meet the major challenges of the Bank of Abkhazia.
To implement currency regulation, including operations on the buying and selling of foreign currency, by determining the order of settlement with foreign countries.
To organise and implement exchange controls, in accordance with the laws of the Republic of Abkhazia.
To organise and carry out measures to prevent the legalization (laundering) of proceeds from crime and terrorism financing.
To participate in the development of the balance of payments forecast of the Republic of Abkhazia, and organize the balance of payments by the Republic of Abkhazia.
To conduct, analyze and forecast the economy of the Republic of Abkhazia, especially in the monetary and financial fields, and publish relevant material and statistical data.

Chairmen of the National Bank

On 10 November 2004, during the height of the post-election crisis, President Ardzinba dismissed Boris Zhirov as Chairman of the National Bank and temporarily appointed Vice-Premier Emma Tania in his stead.^[3] After Sergei Bagapsh won the January 2005 rerun, the People's Assembly voted to permanently appoint a Chairman. It first voted against the permanent appointment of Tania, before supporting on 10 June the nomination of Illarion Argun, former Chairman of Gagra Bank, with 29 votes in favour, 3 against and 3 abstentions.^[4]

On 1 August, Argun along with Jeiran Kirval, the National Bank's Chief Security Officer, died in a car crash on the coastal highway near Upper Eshera.^[5]

On 26 December, President Raul Khajimba nominated Head of the Economical Department of the Presidential Administration Beslan Baratelia as the new Chairman.^[6] On 29 December, Parliament elected him with 28 votes in favour and 1 against (out of 35).^[7]

#	Name	From		Until		President	Comments
	Daur Barganjia	1996	^[8]	1998	^[8]	Vladislav Ardzinba
	Boris Zhirov			10 November 2004	^[3]
	Emma Tania	10 November 2004	^[3]	10 June 2005	^[4]		Acting
	Illarion Argun	10 June 2005	^[4]	29 May 2011		Sergei Bagapsh
		29 May 2011		1 June 2014		Alexander Ankvab
		1 June 2014		1 August 2014	^[5]	Valeri Bganba	Died in office
	Beslan Baratelia	29 December 2014	^[7]	present		Raul Khajimba

References

^ ^a ^b autonomous republic, whose government sits in exile in Tbilisi.
^ Wilson, Tamsin (March 23, 2005), Assessment of Opportunities for Developing a Microfinance Project in Abkhazia, p. 5. United Nations Development Programme Georgia. Retrieved on April 16, 2008.
^ ^a ^b ^c
^ ^a ^b ^c
^ ^a ^b
^
^ ^a ^b
^ ^a ^b

External links

(Abkhaz) National Bank of Abkhazia official site in Abkhazian
(Russian) National Bank of Abkhazia official site in Russian
National Bank of Abkhazia official site in English

Central banks

Global

Global	Bank for International Settlements Basel Committee on Banking Supervision Financial Stability Board

By continent

Africa	Bank of Central African States Central Bank of West African States Bank of Algeria National Bank of Angola Bank of Botswana Bank of the Republic of Burundi Bank of Cape Verde Central Bank of the Comoros Central Bank of the Congo Central Bank of Djibouti Central Bank of Egypt Bank of Eritrea National Bank of Ethiopia Central Bank of The Gambia Bank of Ghana Central Bank of the Republic of Guinea Central Bank of Kenya Central Bank of Lesotho Central Bank of Liberia Central Bank of Libya Central Bank of Madagascar Reserve Bank of Malawi Central Bank of Mauritania Bank of Mauritius Bank Al-Maghrib Bank of Mozambique Bank of Namibia Central Bank of Nigeria National Bank of Rwanda Central Bank of São Tomé and Príncipe Central Bank of Seychelles Bank of Sierra Leone Central Bank of Somalia Bank of Somaliland South African Reserve Bank Bank of South Sudan Central Bank of Sudan Central Bank of Swaziland Bank of Tanzania Central Bank of Tunisia Bank of Uganda Bank of Zambia Reserve Bank of Zimbabwe

Americas	Central Bank of Argentina Central Bank of Aruba Central Bank of The Bahamas Central Bank of Barbados Bermuda Monetary Authority Central Bank of Brazil Bank of Canada Central Bank of Chile Bank of the Republic (Colombia) Central Bank of Cuba Central Bank of Curaçao and Sint Maarten Eastern Caribbean Central Bank Cayman Islands Monetary Authority Central Bank of Ecuador Bank of Guatemala Bank of the Republic of Haiti Central Bank of Honduras Bank of Jamaica Bank of Mexico Central Bank of Nicaragua Central Reserve Bank of Peru Central Bank of Suriname Central Bank of Trinidad and Tobago Federal Reserve System (United States) Central Bank of Uruguay Central Bank of Venezuela

Asia	Da Afghanistan Bank Central Bank of Bahrain Bangladesh Bank Royal Monetary Authority of Bhutan Brunei Currency and Monetary Board Autoriti Monetari Brunei Darussalam National Bank of Cambodia People's Bank of China Hong Kong Monetary Authority Reserve Bank of India Bank Indonesia Central Bank of the Islamic Republic of Iran Central Bank of Iraq Bank of Israel Bank of Japan Central Bank of Jordan National Bank of Kazakhstan National Bank of the Kyrgyz Republic Bank of Korea Central Bank of the Democratic People's Republic of Korea Central Bank of Kuwait Banque du Liban Monetary Authority of Macao Bank Negara Malaysia Maldives Monetary Authority Bank of Mongolia Central Bank of Myanmar Nepal Rastra Bank Central Bank of Oman State Bank of Pakistan Palestine Monetary Authority Bangko Sentral ng Pilipinas Qatar Central Bank Saudi Arabian Monetary Agency Monetary Authority of Singapore Central Bank of Sri Lanka Central Bank of Syria Central Bank of the Republic of China (Taiwan) Bank of Thailand Central Bank of Turkmenistan Central Bank of the United Arab Emirates Central Bank of Uzbekistan State Bank of Vietnam Central Bank of Yemen

Europe	European Central Bank (Eurosystem) National Bank of the Republic of Abkhazia Bank of Albania Central Bank of Armenia National Bank of Austria Central Bank of Azerbaijan National Bank of the Republic of Belarus National Bank of Belgium Central Bank of Bosnia and Herzegovina Bulgarian National Bank Croatian National Bank Central Bank of Cyprus Czech National Bank Danmarks Nationalbank Deutsche Bundesbank Bank of England Bank of Estonia Bank of Finland Banque de France National Bank of Georgia Bank of Greece Hungarian National Bank Central Bank of Iceland Central Bank of Ireland Banca d'Italia Central Bank of Kosovo National Bank of Latvia Bank of Lithuania Central Bank of Luxembourg National Bank of the Republic of Macedonia Central Bank of Malta National Bank of Moldova Central Bank of Montenegro De Nederlandsche Bank Norges Bank Central Bank of the Turkish Republic of Northern Cyprus National Bank of Poland Banco de Portugal National Bank of Romania Central Bank of Russia Banka Slovenije (Slovenia) National Bank of Serbia Bank of Spain Národná banka Slovenska (Slovakia) Sveriges Riksbank Swiss National Bank Central Bank of the Republic of Turkey National Bank of Ukraine

Oceania	Reserve Bank of Australia Reserve Bank of Fiji Reserve Bank of New Zealand Bank of Papua New Guinea Central Bank of Samoa Central Bank of Solomon Islands National Reserve Bank of Tonga

Policies and implementation

Policies	Capital requirement Contractionary monetary policy Expansionary monetary policy Basel II Basel III Basel 4

Implementation	Capital control Discount rate Interest rates Money creation Open market operation Sovereign wealth fund

Bretton Woods system

International Monetary Fund World Bank Group International Bank for Reconstruction and Development International Centre for Settlement of Investment Disputes International Development Association International Finance Corporation Multilateral Investment Guarantee Agency

Lists

List of central banks Central banks and currencies of Africa Central banks and currencies of the Caribbean Central banks and currencies of Central America and South America

Names in italics indicate non-sovereign (dependent) territories, former countries, or states with limited recognition

National Bank of the Republic of Abkhazia