Category: Announcements

Public Notice: CBSI COVID -19 Precautionary Measures

PUBLIC NOTICE: CBSI COVID -19 Precautionary Measures  The Central Bank of Solomon Islands (CBSI) wish to inform the general public, clients/customers and stakeholders that the following precautionary actions listed below will be implemented in order to limit the exposure and risks related to COVID-1 Effective as of Monday 30th of March 2020, the following measures must be adhered to: All visitors (customers, clients, consultants etc.) including staff shall go through a mandatory body temperature screening outside of the building before entering the main door. Visitors or customers who have failed their temperature screening tests shall be denied entry/access into the building. All inbound external customers or consultants shall be prohibited from entering the building unless they have satisfied the minimum health requirements set down by MHMS and have duly completed their 14 days of isolation requirement. All bilateral face to face meetings with domestic stakeholders shall be through a virtual platform until such time the WHO announces a complete eradication of the COVID-19 pandemic. All Exchange Control Applications, Currency Requisition Forms, SIG Payment Advices for local and external creditors, Small Business Finance Guarantee Scheme Applications or any other applications or forms of similar nature for assessment must be submitted to CBSI through electronic means or via an online platform. These measures are subjected to review by the CBSI. _____________________________________________________________________________________  For more information, please contact Central Bank of Solomon Islands...

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SOLOMON ISLANDS NATIONAL FINANCIAL INCLUSION STRATEGY II (NFIS2) 2016-2020 The Second National Financial Inclusion Strategy (NFIS2) is premised on the G20 Principles for Innovative Financial Inclusion following the expiration of the first strategy in 2015. It has a four-year time frame with the work plans anticipated to complete by 2020. The NFIS2 generally extended the work plans of the first national strategy, but with more elaborated and clear objectives. Moreover, the NFIS2 was formulated based on a demand side survey for financial services which was conducted in early 2015. The first national strategy had focused on access to financial services while in this second strategy, the focus is on the usage of financial services. For more details a copy of the Second National Financial Inclusion Strategy (NFIS2) can be downloaded below. Download...

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Public Notice: Dr. Luke Forau appointed as new Governor to the Central Bank of Solomon Islands

Dr. Luke Forau appointed as new Governor to the Central Bank of Solomon Islands. The Central Bank of Solomon Islands (CBSI) wish to formally announce Dr. Luke Forau’s appointment as the new Governor to CBSI. Governor-General Sir David Vunagi, made the formal appointment on the 1st of October 2019, in exercise of the powers conferred by Section 41 (1) of the Central Bank of Solomon Islands Act 2012. The appointment was made on the recommendation of the Cabinet, and the Minister of Finance. Download Public...

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CBSI’s POSITION ON CRYPTO-CURRENCIES The Central Bank of Solomon Islands (CBSI) wishes to warn the general public that cryptocurrencies (i.e. virtual or digital currencies such as bitcoin, etherium, ripple, and others) are not currencies issued or regulated by the Central Bank. Download Public...

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Public Notice – 2019 Cash Exchange Program

Public Notice – 2019 Cash Exchange Program The Central Bank of Solomon Islands (CBSI) would like to inform the public that an exchange of soiled and mutilated or torn banknotes for new $5 dollar notes will take place this Friday 12th of April in front of the CBSI main office, Point Cruz. CBSI would like to ensure that only quality banknotes are circulated in the hands of individuals, communities, business houses and the public at large. This arrangement will continue for the next 4 weeks until the launch of Solomon Islands newest $5 dollar polymer banknote. For more information related to our currency, call us on 21791 or send an email on Central Bank of Solomon Islands 11 April 2019  ...

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Key Statistics

(May, 2020) 7.2%
GDP (2017)
Actual (source: SINSO)
Constant 2012 prices
Real GDP
SBD$ 10,547m
Nominal GDP
SBD$ 11,703m
Real GDP Growth5.3%
Foreign Reserves
(July 29, 2020)SBD $5,728m
Interest Rates
(May, 2020)
Deposit Rate0.45%
Lending Rate10.81%
Money Supply
(July 29, 2020)SBD $5,081m

Exchange Rates

Last Week
CNY0.8475 0.8502

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