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National Bank of the Republic of Macedonia (NBRM)
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National Bank of the Republic of Macedonia (NBRM)

by Aisha MeyerMay 17, 2017
Overview
Abbreviation

NBRM

Founded

1991

Headquarters

Skopje, Macedonia

Website

http://www.nbrm.mk/

National Bank of the Republic of Macedonia (NBRM)

The National Bank of the Republic of Macedonia (NBRM) or Narodna Banka na Republika Makedonija is the central bank of Macedonia, located in the capital city, Skopje.

The NBRM performs the following functions:

  • establish and conduct monetary policy;
  • regulate liquidity in the international payments;
  • establish and conduct the Denar;
  • handle and manage foreign exchange reserves;
  • regulate the payment system;
  • grant founding and operating license to a bank and a savings house and supervise the banks and savings houses;
  • grant a licence for performing services of prompt money transfer and supervise the operations of the entities performing services of prompt money transfer in accordance with a law;
  • grant operating licenses to foreign exchange bureaus and supervise their operations in accordance with the law;
  • issue banknotes and coins;
  • perform activities for the account of the central government and the government administration bodies.
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About The Community Member
Aisha Meyer
A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base in the state, and usually also prints the national currency, which usually serves as the state's legal tender.

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