To enable the efficient performance of its duties as laid down in the Central Bank Act, the Bank is divided into eight departments:

  • Governors Office Department
  • Human Resource and Corporate Services Department
  • Finance and Accounts Department
  • Financial Systems Regulation Department
  • Financial Market & Exchange Control Department
  • Currency, Banking & Payments Department
  • Economics, Research & Statistics Department
  • Information & Communication Technology Department

Each comes under the control of a Chief Manager except for the Governors Office Department which is controlled by the Governor himself with the assistance of the Deputy Governor.

The following are the list of departments under the control of a Chief Manager.

Human Resource & Corporate Services Department (CSD)

The Corporate Services department supports the Bank’s core departments.

This department is responsible for budget administration, internal expenditure controls and property management.  It is also responsible for the administration of personnel matters in line with the Bank’s employment policies and directives, including training, leave entitlements, discipline, recruitment, security and staff welfare.  It is responsible too for budgets, financial reports and the Bank’s information technology system.  It also coordinates annual staff appraisals by line management.

Financial System Regulations Department (FSRD)

This department is responsible for supervising commercial banks and other financial institutions.  It assesses their financial soundness on the basis of their balance sheets and other financial records, and recommends remedial action when it detects any sign of weakness or other areas of concern.  Under the Financial Institutions Act, it also conducts periodic on-site inspections.

In keeping with its supervisory role, FMS monitors commercial banks’ liquid assets each week, to ensure they do not fall below the statutory required level. If they do, the department will act immediately to rectify the position.  It is also responsible for administering Bank schemes that help commercial banks to finance long-term development projects, and that help small businesses to obtain credit from banks at a reasonable cost.

FMS is responsible too for assessing financial services in rural areas, and encouraging extension of those services when necessary. It does this through publicity, seminars and provision of safe custody facilities for commercial bank branches or agencies in rural areas.

It is also responsible for promoting the development of credit unions in Solomon Islands, by supporting SICUL – the umbrella body of the credit union movement – and providing it with registry services.


Finance and Accounts Department (FAD)

The accounts department facilitates budget management and timely provision of financial information on the banks operation to management and stakeholders.


Currency, Banking and Payments Department (CBPD)

This Currency and Banking Operations department has a number of operational responsibilities. It oversees the issue and redemption of notes and coins as well as their printing and minting; it ensures the security of currency in stock and is also responsible for the issue of numismatic coins.  It maintains accounts for government, statutory bodies, commercial banks and other financial institutions, and also manages the daily commercial bank cheque clearing system.

It also deals with the management of the government’s external and domestic debt, monitoring it and producing regular reports; conducts the weekly Treasury bill auctions and it registers securities issued on behalf of the government, making recommendations on their volume, price and maturity structure.


Financial Market and Exchange Control Department (FMECD)

FMECD administers exchange controls on behalf of the government.  The department calculates the daily Solomon Islands dollar exchange rate and administers the policy of the Board on management of external reserves.  It also deals in foreign exchange, in accordance with the CBSI Act.

This department assesses applications for foreign exchange from the public, for purposes including import payments, travel, education allowances, transfers of emigrants’ funds and connected remittances, proceeds of property transactions and foreign borrowings by residents.  It also compiles foreign exchange transactions statistics from commercial bank reports.

The International department manage and invest the international reserves, they assist in the facilitation of the international exchange of money, and the administering of the exchange control regulations as well as the daily valuation of SI dollar for the international exchange.


Economics Research and Statistics Department (ERSD)

Economics Department is responsible for data collection, collation, and analysis and reporting.  It also forecasts future financial developments such as movement in the balance of payments.

Data collection involves the gathering of economic, monetary and financial information from domestic and foreign sources.  In some instances, institutions such as the commercial banks must submit regular reports.  The department also collects economic information from the Finance Ministry’s Statistics Division and Budget Unit, the Bank’s Foreign Exchange Department and some statutory bodies, as well as from private sector organizations.

Once the data has been collected and collated, the department analyses it.  It consolidates it, compares it with previous periods, and draws appropriate conclusions.  This helps the Bank formulate appropriate economic policy advice for the government.

The department produces its reports for internal and external distribution. These are distributed both in hard copy and on the Bank’s website. The department publishes a Monthly Bulletin, a Quarterly Review and an Annual Report. A set of weekly statistics is also published in the newspapers.