Category: Speeches

Governors remarks at the launching of the 2018 annual report

Governors remarks at the launch of the 2018 CBSI Annual Report, Denton Rarawa Governor Central Bank of Solomon Islands Launch of the 2018 Annual Report- Mendana Hotel Honiara – 20th May, 2019 Download PDF Salutations ·        The Honourable Minister of Finance & Treasury, ·        Other Honourable Ministers and Members of Parliament, ·        Representatives of the Diplomatic Corps, ·        Senior Government officials, ·        Central Bank Directors, ·        Heads of Statutory Authorities, ·        Heads of Financial Institutions, ·        Representatives of Non-Government Organizations, ·        Representatives of the Private Sector, ·        Representatives of the Media, ·        Ladies and gentlemen,   It is a pleasure and an honour to warmly welcome you all and thank you for accepting our invitation to the launch of CBSI’s 2018 Annual Report. This event is one of the important occasions in the Bank’s calendar.  It provides me an opportunity to account for the Bank’s operations and financial outcomes during the year. However, before I do that, let me first of all present to you an assessment of economic conditions last year, as well as share some food for thought on how we can progress our economy going forward. At last year’s annual report launch, I talked about the need to “reform to transform” our economy after 40 years of nationhood. Today, I want to focus on reforms in the next four to six years. What realistically we could...

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Deputy Governors opening remarks at the launch of the new $5 polymer banknote

Deputy Governors opening remarks at the launch of the new $5 polymer banknote. Dr. Luke Forau Deputy Governor, Central Bank of Solomon Islands Launch of the new $5 polymer banknote – Heritage Park Hotel Honiara – 2nd May, 2019 Download PDF Salutation Permanent Secretary (Ag), Ministry of Finance and Treasury, Representatives from the Ministry of Commerce, Industries, Labor and Immigration Representatives from the Ministry of Fisheries and Marine Resources. CBSI Board of Directors CEOs and country managers from the banking industry. Our business partners from Note Printing Australia and CCL – NPA’s CEO Mr. Malcolm McDowell and Mr Nuwan Kalpage, and from PolyTeQ, Mr. Brian Lang. Representatives from the media Distinguished guests Ladies and Gentlemen,   A very good morning and warm welcome to you all! It’s an honour to have you here with us this morning, to witness the launch of the country’s new polymer $5 banknote. As you may have already probably aware, the new polymer $5 note was unveiled recently at the International Currency Conference in Dubai, United Arab Emirates. It was a fitting occasion given the presence of important global players in the Cash Cycle – from the note printers, ink suppliers, manufacturers of security features, suppliers of printing machines, suppliers of polymer substrates to the Note Issuing Authorities that included the Central Banks and Treasuries. But, at the Currency Conference, what seemed to be a topical issue was...

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Governors Speech – Governors Remarks at the Launching of the commemorative $40 note and $2 colored coin

Speech: Remarks by Central Bank Governor, Denton Rarawa at the Launching of Solomon Islands commemorative $40 note and coloured $2 coin, marking Solomon Islands 40th Anniversary Independence. Denton Rarawa Governor Central Bank of Solomon Islands Launching of Solomon Islands commemorative $40 note and coloured $2 coin, marking Solomon Islands 40th Anniversary of Independence. Honiara – 05th July, 2018 Download PDF Remarks by Central Bank Governor, Denton Rarawa at the launching of Solomon Islands commemorative $40 note and coloured $2 coin, marking Solomon Islands 40th Anniversary of Independence, 5th July 2018 ___________________________________________________________________ [Salutation] PS Ministry of Finance CBSI Board Directors Commercial Bank Managers Representatives of the Media Good people of Solomon Islands Ladies & Gentlemen First of all, let me welcome you to the Central Bank and thank you for joining us this morning to witness the launch of the $40 polymer note and coloured $2 coin to mark our country’s 40th anniversary of independence.  This is a happy occasion for the Central Bank as it marks the culmination of a project that started about a year ago, but also as this event represents the Bank’s contribution towards our national celebration on the occasion of our country’s achievement of 40 years of nationhood. The idea to issue a $40 note and a coloured $2 coin to commemorate our country’s 40th anniversary of independence was discussed by the CBSI Board in...

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Governors Speech – Solomon Islands Money Day 2018

Remarks on the Solomon Islands Money Day – 42nd Anniversary of Central Banking in Solomon Islands Denton Rarawa Governor Central Bank of Solomon Islands Solomon Islands Money Day: 42nd Anniversary of Central Banking in Solomon Islands Honiara – 21th July, 2018 Download PDF Formal Salutations & Acknowledgement – – A very good morning and a warm welcome to you all. Thank you for finding time in your busy schedule to be part of today’s event, hosted by the Central Bank of Solomon Islands, here at this venue. As have been the practice in the past by CBSI, on this day, 21st of June, we are gathered here mainly to celebrate two important events.   First, it is the anniversary of the work of central banking in the Solomon Islands.   Today CBSI turns 42 years of age since its humble beginnings initially as the Solomon Islands Monetary Authority back in 1976. What began as a small but critical operation of not more than 10 people, in preparation for the Solomon Islands seeking its independence two years later in 1978, has now grown into a fully-fledged central banking institution with more than 140 staff and employees, working and serving the country, our government and our people. So yes, let us acknowledge and remember that today, 21 June is the day CBSI was formally established. The second event and a very...

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Governors Speech- Launching of the 2017 Annual Report

Governors Speech- Launching of 2017 Annual report Denton Rarawa Governor Central Bank of Solomon Islands 2017 Annual Report Launch- Mendana Hotel Honiara – 10th May, 2018 Download PDF Remarks by Central Bank of Solomon Islands (CBSI) Governor, Denton Rarawa at the launching of the CBSI  2017 Annual Report, Mendana Hotel, May 10th 2018    [Salutation] Deputy Prime Minister & Minister of Finance, Hon Manasseh Sogavare Minister for Forestry & Research, Hon Samuel Manetoali Permanent Secretaries & other Senior Government Officials Representatives of Diplomatic missions & international organisations CBSI Board Directors Heads of banks and other financial institutions Representatives of SOE’s and private sector companies Representatives of NGO’s, CSO’s, women’s groups Representatives of the media Ladies and gentlemen       Introduction Let me welcome you all, and thank you for accepting our invitation to be with us at this morning’s launching of the CBSI’s 2017 annual report. This is one of the important annual events for the Bank where we provide an assessment of the country’s economic conditions, comment on topical policy issues and account for the Bank’s operations in the prior year. As we all know, 2018 is a special year for our country. We will be celebrating 40 years of independence in July. Hindsight enables us to reflect on our journey, our successes and failures. I would like to look ahead and pose these questions; what do we want...

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Key Statistics

Inflation
(March, 2019) 1.3%
GDP (2016)
Actual (source: SINSO)
Real GDP
SBD$ 4,603m
Nominal GDP
SBD$ 8,606m
Real GDP Growth3.4%
Foreign Reserves
(May 15, 2019)SBD $5,124m
Interest Rates
(March, 2019)
Deposit Rate0.31%
Lending Rate10.83%
Money Supply
(May 15, 2019)SBD $5,197m

Exchange Rates

per
SBD
Today
21/05/2019
Last Week
14/05/2019
USD0.12260.1229
GBP0.09630.0947
EUR
0.10980.1095
AUD0.17740.1764
NZD
0.18760.1868
JPY13.501313.4572
SDR0.08890.0887
CNY0.8469 0.8421
Index111.4111.0

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