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Bank of Namibia

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Bank of Namibia

Logo der Bank von Namibia
Logo

General information
Headquarters

Windhoek, Namibia

Date established

1993

Governor

Ipumbu Shiimi

Currency

Namibian dollar

Base borrowing rate

11.44% (October 2009)

Website
www.bon.com.na

The Bank of Namibia is the central bank of Namibia. It is the only institution permitted to issue the Namibian dollar by authority granted by the Namibian Parliament. The current governor of the institution is Ipumbu Shiimi. It is headquartered in Windhoek, and another branch is located in Oshakati.

HistoryEdit

Originally, the central bank of Namibia was to be designated as the "Namibia Reserve Bank" and was intended to issue the kalahar, a proposed currency to replace the South African rand in the country. However, the concept of the kalahar was eventually dropped and the name of the bank was changed to the "Bank of Namibia". In 1993, the bank was officially established, and it printed its first banknotes on September 15 of that year. Coins were first produced that December. A total of five individuals have held the position of the bank's governor, and in 2010, incumbent Ipumbu Shiimi succeeded Tom Alweendo following the latter's resignation.

ReferencesEdit

External linksEdit

 v · d · e
Namibian dollar
Banknotes $10$20$50$100$200
Coins 5 c10 c50 c$1$2$5$10$20$100
Miscellaneous Bank of NamibiaCommon Monetary AreaSouth African rand
 
Namibian concepts and patterns
Kalahar 2 k5 k10 k20 k
Patterns Dollar: $1$10; Mark: 1 M10 M; Rand: 100 r
Miscellaneous Erik KarlssonNamibia Reserve Bank

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