Central Bank of Solomon Islands

The Central Bank of Solomon Islands was established in February 1983 under the Central Bank of Solomon Islands Act 1976, converting the earlier Solomon Islands Monetary Authority into a full central bank, and is headquartered in the capital, Honiara. Under the CBSI Act of 2012 its duties include determining monetary policy, managing the exchange rate, managing the country's international reserves, issuing currency, representing Solomon Islands in international monetary relations, and regulating financial institutions. The bank issues the Solomon Islands dollar and is wholly state owned, with foreign reserves reported at roughly 480 million US dollars. Rick Houenipwela served as governor from 1993 to 2008, followed by Denton Rarawa from 2008 to 2019, and Luke Forau has held the post since 2019. The bank takes an active role in the Alliance for Financial Inclusion, working to widen access to banking services across the country's scattered island communities.