Central Bank of the Congo

The Central Bank of the Congo (French: Banque Centrale du Congo, Lingala: Ndaku Monene ya Bokéngeli Mbongo ya Mboka Kongo) is the central bank of the Democratic Republic of the Congo. The bank's main offices are on Boulevard Colonel Tshatshi in La Gombe in Kinshasa.

Central Bank of the Congo
Banque Centrale du Congo
Bank logo
Bank logo
HeadquartersKinshasa, Democratic Republic of the Congo
Established1961
Ownership100% state ownership[1]
PresidentMalangu Kabedi Mbuyi
Central bank ofDemocratic Republic of the Congo
CurrencyCongolese franc
CDF (ISO 4217)
Reserves770 million USD[1]
Preceded byBanque du Zaïre
Websitewww.bcc.cd
Seat of the Central Bank in Kinshasa

The bank is engaged in developing policies to promote financial inclusion and is a member of the Alliance for Financial Inclusion.[2] On 5 May 2012 the Central Bank of the Democratic Republic of Congo announced it would be making specific commitments to financial inclusion under the Maya Declaration.

History
500 francs, issued by the Bank of the Belgian Congo, 1943 (obverse and reverse)

On 13 October 1960, the newly established Democratic Republic of the Congo issued an executive order creating the Conseil monétaire de la République Démocratique du Congo,[3] which took over the Congolese operations of the Banque Centrale du Congo Belge et du Ruanda-Urundi (BCCBRU). The Conseil monétaire evolved in 1964 into the Banque Nationale du Congo, the country's new central bank.

When the Congo changed its name to Zaire in 1971, the Banque Nationale du Congo became the Banque du Zaïre (Bank of Zaire). Then in 1997, when the country's name became the Democratic Republic of the Congo, the bank took its current name.

Regional operations

The central bank operates a network of regional branches across the DRC, the largest country in Sub-Saharan Africa. Branches can be found in Lubumbashi, Goma, Kamina, Kasumbalesa, Kikwit, Tshikapa, Ilebo and Matadi. In cities where the central bank is not present, a commercial bank can be appointed to represent it; Trust Merchant Bank performs such a role in Likasi and Kolwezi.

See also

References
  1. Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. "AFI members". AFI Global. 2011-10-10. Archived from the original on 2012-08-22. Retrieved 2012-02-23.
  3. Jésus Ngumba (2010), Présentation du système financier congolais, University of Kinshasa

Sources
  • Banque du Congo belge. 1959. Banque du Congo belge, 1909-1959. Bruxelles, Editions L. Cuypers
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