National Bank of the Republic of Belarus

General information

The National Bank is the central bank and the state agency of the Republic of Belarus. It is independent in its activities and is accountable only to the President. The Head of State approves the Statute of the National Bank and appoints, with the consent of the Parliament, the Bank’s chairman and members of the board.

Main objectives

• to maintain price stability;
• to ensure stability of the Belarusian banking system;
• to secure efficient, reliable, and safe functioning of the payment system.

Main tasks

• to elaborate the Key Monetary Policy Guidelines and, together with the Government, to ensure the implementation of the uniform monetary policy of Belarus;
• to lend resources to banks and to refinance them;
• to issue money and securities of the National Bank;
• to accumulate gold reserves and a fund of precious stones of the State Fund of Precious Metals and Precious Stones;
• to manage gold and foreign currency reserves in consultation with the President;
• to carry out currency regulation and foreign exchange control;
• to regulate credit relations;
• to regulate leasing and microfinance activities, as well as activities related to transactions with non-deliverable over-the-counter financial instruments;
• to regulate and manage money circulation;
• to establish rules and procedures for banking operations;
• to perform banking supervision;
• to carry out licensing of banking activities;
• to carry out monitoring of financial stability;
• to organize the functioning of the payment system and supervise it;
• to develop a common settlement and information space;
• to maintain banking and monetary statistics, statistics of the financial market, balance of payments, international investment positions, gross foreign debt of Belarus, and financial stability, and to post official statistics on the official website of the National Bank.