The activities of the Central Bank of Solomon Islands are overseen by the following board of directors and departments.
Board of Directors
The oversight of the operation and governance of the Central Bank are vested in the Board of Directors. The Board consists of the Governor as the chairperson, the Deputy Governor, the Permanent Secretary of the Ministry of Finance and Treasury, and six non-executive members. They are charged with the formulation and supervision of the implementation of the Central Bank policies and the supervision of the administration and operations of the Central Bank. read more.
Governance & Operations
The Governor serves as the Chief Executive of the Central Bank and is charged with the day to day management of the operations of the Central Bank and is assisted by the Deputy Governor. The Governor is accountable to the Board and reports to the Board on the conduct of the Central Bank’s operations and policies. There are three Committees of the Board that are established to assist with the governance and management of the Bank, namely the Board Audit Committee, the Board Remuneration Committee and the Board Disciplinary Committee. In addition, there are also three internal technical Committees namely the Monetary Policy Committee, the Financial Stability Committee and the Financial and Investments Committee, that were established to formulate the policy positions of the Central Bank. There is an internal Management Committee that is set up to make decisions on administrative matters. The decisions made by all these committees shall be sent to the Board for final endorsement.
To execute the functions and perform the operations of the Central Bank, the Bank is structured into nine major departments and supported by four smaller units. The major departments consist of: Governors Office; Economics Research & Statistics Department (ERSD); Risk Management & Communications Department (RMCD); Financial System, Regulation Department (FSRD). Financial Markets & Exchange Control Department (FMECD); Currency Banking & Payments Department (CBPD); Human Resources & Corporate Services Department (HRCSD); Finance and Accounts Department (FAD) ; Information & Communication Technology Department (ICTD)
The smaller supportive units are, National Financial Inclusion Unit (NFIU) ; Internal Audit Unit (IAU) Corporate Communications Unit (CCU) including the Solomon Islands Financial Intelligence Unit (SIFIU) which is housed within the Central Bank but reports to the Anti-Money Laundering Commission. read more.